News & Events

REBA HOSTS HOUSING CHOICE FORUM

by | Mar 15, 2018 | events, Featured, News & Events

On February 14, 2018, the Real Estate Bar Association (REBA) Affordable Housing Committee hosted a brownbag lunch forum to discuss the new Housing Choice Initiative and related legislation. Co-Chairs Kurt James of KJP and Carol McIver of MassHousing moderated a panel discussion on the likely impact of this legislation and the procedures for obtaining a Housing Choice designation and grant funds.

The Housing Choice Initiative rewards municipalities that have produced certain rate or amounts of new housing units in the last five years while also adopting best practices related to housing production, which will both sustain a 21st century workforce and increase access to opportunity for Massachusetts residents. Communities that achieve the Housing Choice designation will receive preferential access to statewide grant programs and have exclusive access to apply for the new Housing Choice Grant Program. Recognizing that small towns face unique challenges, the Housing Choice Initiative will set aside funding for a competitive capital grant program exclusively for towns with a population under 7,000 people. One million in capital grant monies are expected to be available in the first year, to grow thereafter. Small towns can also apply for House Choice Designation.

The guest speakers at this event were Roberta L. Rubin, Chief Counsel at the Department of Housing and Community Development, and Chris Kluchman, Housing Choice Program Director at the Department of Housing and Community Development.

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...