News

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.

LIFE INSURANCE COMMUNITY INVESTMENT INITIATIVE CLOSES $10.1MM LOAN TO FINANCE A MIXED-USE DEVELOPMENT IN WORCESTER

Congratulations to the Life Insurance Community Investment Initiative in closing a $10.1MM loan for the benefit of 92 Grand Street Commons LLC, an affiliate of Main South Community Development Corporation.  The proceeds of the loan will finance the acquisition and development of a mixed-use development known as Grand Street Commons at 92 Grand Street, Worcester, Massachusetts. The project will reclaim a vacant, blighted 95,000 sq ft lot located in Main South’s University Park neighborhood and provide 46 affordable residential [...]

BOSTON PRIVATE BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Boston Private Bank & Trust Company in closing a $25MM loan for the benefit of 90 Longwood LLC, an affiliate of the Brookline Housing Authority. Boston Private purchased tax exempt bonds from Massachusetts Housing Finance Agency and made the proceeds from the sale of the bonds available to finance the acquisition and rehabilitation of Morse Apartments, which shall provide 98 units of affordable rental housing for families living in the town of Brookline, Massachusetts.

HOUSING CORPORATION OF ARLINGTON FINANCES DOWNING SQUARE INITIATIVE

Congratulations to the Housing Corporation of Arlington in closing the Downing Square Initiative, which will finance the demolition and reconstruction of buildings located at 117 Broadway, 19R Park Avenue, and 0 Lowell Street, Arlington, Massachusetts. Through financing from The Property and Casualty Initiative, LLC, Leader Bank, N.A., and several public lenders, the Downing Square Initiative will create 48 units of affordable housing for the residents of the town of Arlington.

BOSTON PRIVATE BANK CLOSES $2MM LOAN TO PROVIDE HOUSING FOR TEACHERS IN WEST VIRGINIA

Congratulations to Boston Private Bank & Trust Company in closing a $2,000,000 loan for the benefit of Reconnecting McDowell, Inc. The proceeds of the loan will finance the construction of a 27,776 square foot mixed-use residential and office building including 16 affordable housing units at 9 Wyoming Street, Welch, West Virginia. These 16 units will provide housing for local public school teachers, allowing them to live in the communities they serve.