We invest our flexible loan capital creatively and intentionally to generate opportunities for people with low incomes and remove systemic barriers to help them thrive.
Lowell Community Health Center provides high quality, culturally competent, affordable health services to individuals and families who are medically underserved, uninsured, and low-income. With this loan, the Health Center provides new dental and vision services to their patients. It also increased adult health services and consolidated administrative offices into one locale. The health center serves more than 25,000 patients, annually.
Read more about this project
Community Economic Development Center (CEDC) is completing a three phase renovation of a historic movie theater in New Bedford’s downtown Transformational Development Initiative District. The property’s renovation will serve to activate a vacant community building on a prominent commercial corridor in an underinvested neighborhood. This phase of the green adaptive reuse initiative will create 6 units of affordable rental housing and 5,200 square feet of ground floor retail / commercial space.
Read more about this project
Victory Programs is acquiring an existing Single Room Occupancy (SRO) property at 16 Williams Street in Brookline, MA. The property was owned by a nonprofit organization serving adults with disabilities, and the City of Brookline selected Victory Programs to ensure the property is preserved as affordable supportive housing. The property will house 10-12 individuals/families in recovery who are being reunited with their children.
Read more about this projectPennrose is developing 48 units of mix-income affordable rental housing on a parcel of land owned by the town of Chatham, on Cape Cod. The 2.9 acres parcel at 1533 Main Street in Chatham was purchased by the Town in 2022 and Pennrose was selected to develop affordable and workforce housing on the site.
Read more about this project
The Hillsboro Live/Work Condominiums project consists of 21 new for-sale residential units in a four-story building. All units will be affordable and a preference for Boston- Certified Artists will apply to 18 of the units. This project is an extension of the effort New Atlantic undertook to preserve the adjacent Humphreys Street Studios buildings – a commercial artist studios property that serves approximately 45 artists and creative small businesses, most of whom are low and moderate-income.
Read more about this project
Traggorth Companies acquired this vacant property on the main street in the downtown area of Haverhill. The property was converted from 100% commercial use to 24 residential units and one commercial space on the ground floor. The City of Haverhill has strongly endorsed the project.
btcRE is a niche real estate investment firm targeting the redevelopment of complicated, underutilized, mid-sized commercial real estate assets in the peripheral markets of Boston. This loan financed the acquisition of 179-202 Bear Hill Road and 283-293 Second Avenue, Waltham, and financed tenant improvements and value-added capital improvements to 283-293 Second Avenue.
Housing Corporation of Arlington (HCA) acquired two parcels of land totaling 38,000+ SF in Arlington, on which HCA constructed 27 new units of affordable housing in two buildings. The Downing Square development created 9 units for formerly homeless households earning below 30% of AMI and 18 units for households earning at or below 60% of AMI.
This loan financed the gut rehabilitation of Ellis Memorial’s 11,000 SF building located at 66 Berkeley Street, Boston. The project allowed Ellis Memorial to expand and improve its early education and after-school services for low-income families. Founded in 1885 as one of Boston's earliest settlement houses, they provide high quality early education and care for infants, toddlers and preschool children, out-of-school time programs for youth in grades K-7 at sites in the South End and Roxbury, and an adult day health program for disabled or elderly adults.
Beacon Communities acquired the Highland Glen project to preserve and improve 179 units of elderly and disabled rental housing. Beacon planned to completely rehabilitate the units with a combination of Federal and State subsidy.
Nuestra constructed 16 condominiums, 8 of which are affordable to households earning up to 100% of area median income (“AMI”) and 8 that are affordable to households earning up to 80% of AMI.
Lowell Community Health Center provides high quality, culturally competent, affordable health services to individuals and families who are medically underserved, uninsured, and low-income. With this loan, the Health Center provides new dental and vision services to their patients. It also increased adult health services and consolidated administrative offices into one locale. The health center serves more than 25,000 patients, annually.
At the time, MACOM was the largest manufacturer in Lowell and needed to expand to achieve improved efficiency and greater research and production capacity. As a result of this transaction, MACOM Technology Solutions achieved improvements to its existing 150,000 SF R&D and manufacturing facility, and the construction of a new 58,000 SF headquarters building. Macon expected to expand its full-time employees from 373 to 650.
The loan proceeds refinanced a bank mortgage on a 2-acre parcel of land located in Walpole, MA. The land is used to accept sod, tree debris, and other (non-construction) materials removed by an affiliate from construction projects, and then convert material to saleable products including mulch and firewood. Funds both refinanced facilities and provided financing for business expansion.
This was a participation in a bank loan that provided financing for the redevelopment of 150 Blackstone River Road, Worcester into a 615,678 SF warehouse/distribution center. The three companies that will lease the facility project aimed to create 300 jobs for the city of Worcester.
