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.
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 [...]
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.
Congratulations to Just-A-Start on the ceremonial groundbreaking for Squirrelwood Apartments, which will provide a total of 78 affordable residential units at 40 and 54 Market Street, 200, 204, 210 Columbia Street, 261-263, 265, 267, and 269 Broadway, 1-6 Linwood Place, 8-12 and 17 Boardman Street, Cambridge, Massachusetts. On May 16, 2019, Massachusetts Housing Partnership Fund Board, a Massachusetts public instrumentality and body politic and corporate, acting for itself and as agent for the following lenders: The Commonwealth of Massachusetts, [...]
Congratulations to Boston Private Bank & Trust Company in closing a $27MM loan for the benefit of Young Men's Christian Association of Metro North, Inc. Boston Private purchased tax exempt bonds from Massachusetts Development Finance Agency and made the proceeds from the sale of the bonds available to finance the purchase and construction of a new Lynn YMCA, a project that will construct and furnish a new 68,900 square foot YMCA facility located at 20 Neptune Boulevard in Lynn, [...]
KJP Partners represents a regional non-profit social services organization in negotiating the joint venture acquisition, New Markets Tax Credit financing and development of a mixed use transit oriented project in Roxbury which will include a 27,000 square foot headquarters facility for delivering rental assistance, emergency shelter, economic literacy workshops, housing counseling and other services to low-income families.
Our partners represented a member-based religious non-profit organization in its merger with and into another organization, facilitating the sale of the entity’s real estate, working with the board and constituents to obtain all needed approvals, including the membership and Attorney General’s approval under M.G.L. c. 180, Sec. 8A(c) through the cy pres process, and modification of donor imposed restrictions in order to ensure the proper disposition of assets of the entity.
Our partners represented a local non-profit community development corporation in its successful merger with another community development corporation resulting in the formation of a regional community development organization serving the North Shore, including drafting and negotiation of merger agreements, evaluation of the parties’ portfolios and other diligence, and advising the client with obtaining all needed consents and approvals to effectuate the merger.