Affordable Housing

EASTERN BANK CLOSES $2.2MM LOAN TO PROVIDE SUPPORTIVE HOUSING IN QUINCY

Congratulations to Eastern Bank in closing a $2.2MM loan for the benefit of Neighborhood Housing Services of the South Shore, Inc.  The proceeds of the loan will finance the construction of Lower Winter Street Apartments at 54 Winter Street (aka 54-64 Winter Street), Quincy, Massachusetts. Lower Winter Street Apartments will provide 18 supportive housing units for individuals who are either homeless or at extreme risk of homelessness in the City of Quincy. 

EASTERN BANK CLOSES $19MM LOAN TO PROVIDE HOUSING FOR SENIORS IN HOLBROOK

Congratulations to Eastern Bank in closing a $19MM loan for the benefit of NWHS Holbrook Center Senior Owner LLC, an affiliate of Neighborhood Housing Services of the South Shore, Inc.  The proceeds of the loan will finance the construction of Holbrook Senior Center, a mixed-use development at 120 North Franklin Street, 132 and 132R North Franklin Street, 27 Maple Avenue, and 31 Maple Avenue, Holbrook, Massachusetts. Holbrook Senior Center will provide 70 units of affordable rental housing to seniors [...]

CONCORD SQUARE PLANNING & DEVELOPMENT FINANCES THE CONSTRUCTION OF 40R PROJECT IN BROCKTON

Congratulations to Concord Square Planning & Development, Inc. in closing the financing of the construction of the Anglim Building at 93 Centre Street in Brockton, Massachusetts. Through financing from Silicon Valley Bank, Massachusetts Housing Investment Corporation, and PM 2006 Massachusetts Historic Tax Credit Fund, LLC, among others, Concord Square Planning & Development will create 11 affordable rental units for the residents of Brockton.

SILICON VALLEY BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Silicon Valley Bank in closing a $7MM loan for the benefit of NHS Copley Gardens LLC, an affiliate of Neighborhood Housing Services of the South Shore, Inc. Silicon Valley Bank purchased tax exempt bonds from Massachusetts Development Finance Agency and made the proceeds from the sale of the bonds available to finance the lease of the land and the rehabilitation of Copley Gardens, located at 105-115 Market Street, Rockland, Massachusetts. Copley Gardens will provide 72 affordable housing [...]

GROUNDBREAKING CEREMONY FOR HAYWOOD HOUSE

Congratulations to the Newton Housing Authority on the ceremonial groundbreaking for Haywood House, a 55-unit affordable residential building for seniors at 111 JFK Circle Newton, Massachusetts. On April 27, 2021, the following lenders provided loans in the aggregate amount of $7,840,900.00 to support the development of the project: the Commonwealth of Massachusetts acting by and through the Department of Housing and Community Development, for itself and as agent for the following lenders: The Commonwealth of Massachusetts, acting by and [...]

GROUNDBREAKING CEREMONY FOR DRACUT CENTRE SCHOOL

Congratulations to Coalition for a Better Acre, Inc. on the ceremonial groundbreaking for Dracut Centre School, a new 9-unit affordable residential building in the historic school building at 11 Spring Park Avenue, Dracut, Massachusetts. On April 15, 2021, Coalition for a Better Acre, Inc. closed the financing of this historic building, which will provide affordable housing to residents of Dracut.

COALITION FOR A BETTER ACRE, INC. FINANCES ACQUISITION AND REHABILIATION OF HISTORIC DRACUT CENTRE SCHOOL

Congratulations to Coalition for a Better Acre, Inc. in closing the financing of Dracut Centre School, which will finance the rehabilitation of the historic school building located at 11 Spring Park Avenue in Dracut. Through financing from Pentucket Bank and several public lenders, Dracut Centre School will create 9 units of affordable housing for the residents of the town of Dracut.

BOSTON PRIVATE BANK CLOSES $2,335,000 LOAN TO PROVIDE HOMEOWNERSHIP OPPORTUNITIES IN EVERETT

Congratulations to Boston Private Bank & Trust Company in closing a $2,335,000 loan for the benefit of Broadway Everett TND LLC, an affiliate of The Neighborhood Developers, Inc. The proceeds of the loan will finance the acquisition of 10-20 Gledhill Avenue, Everett, Massachusetts and the construction of six residential condominium units. These units will provide affordable homeownership opportunities for the residents of Everett.