News & Events

REBA HOSTS WORKFORCE HOUSING FORUM

by | Apr 10, 2017 | News & Events

On November 30, 2016, Kurt James of KJP and Beth Elliott, General Counsel at Massachusetts Housing Finance Agency, Co-Chairs of the Real Estate Bar Association (REBA) Affordable Housing Committee, moderated a panel discussion focusing on the newly enacted Workforce Housing Production Trust Fund Program.

Our discussion focused on the fact that Massachusetts continues to suffer from a lack of affordable housing for working families.  Further, Gateway Cities have commercial and industrial core areas suffering from neglect, a lack of investment and many buildings empty or significantly underutilized.    Among other initiatives in the Economic Development Bill which passed last August, the Workforce Housing Production Trust Fund Program will provide new tax exempt bond funds and work to leverage existing tax credits for use in workforce housing.  In addition, MassHousing’s $100 million workforce housing fund supports the creation of rental housing that is affordable for working families whose incomes are too high for subsidized housing but are priced out of market rents.  In combination, these initiatives promise to significantly expand opportunities for development of workforce housing in the Commonwealth.

Edward C. (Ted) Carman, Jr., President of Concord Square Planning & Development, Inc., Eleanor White, President of Housing Partners, Inc. and Beth Elliott, General Counsel of MassHousing were our guest speakers.

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...

MARION VILLAGE ESTATES REFINANCES FHA-INSURED AFFORDABLE HOUSING

Congratulations to Marion Village Estates LLC in closing a $3,832,200.00 loan from ORIX Real Estate Capital, LLC in order to refinance the property at Front Street in Marion, Massachusetts. Marion Village Estates provides 60 units of affordable rental housing to the...

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...

EASTERN BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Eastern Bank in closing a $10.5MM loan for the benefit of Cabot Housing LLC, an affiliate of the Young Men’s Christian Association of the North Shore, Inc. Eastern Bank purchased tax exempt bonds from Massachusetts Development Finance Agency and...