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.
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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.
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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.
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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.
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Great Cove is a deeply affordable, 10-unit rental development built on land owned by the Mashpee Housing Authority (MHA). The five duplexes are all affordable to households earning 50% of area median income (AMI) or less, with 25% of the units targeted to households earning 30% of AMI or less, including one Community Based Housing Program (CBHP) unit for people with disabilities.
LBB Housing is a 103-unit scattered site affordable housing development located in Dorchester and Mattapan. Financing supported the rehabilitation of this important affordable housing asset.
Father Bill’s & MainSpring’s mission is to help people obtain a home by giving them temporary shelter and food, finding safe and affordable housing, and providing permanent housing with supportive services. PCI supported Father Bill’s purchase of 28 Lexington Street in Brockton, a building containing three, 3-bedroom units of low-income housing. Father Bill’s & MainSpring uses the three-family to house its clients.
In the 1970s, the Piper family developed a manufactured home community in Carver, and in 2011 offered the site, Pine Tree Village, for sale. With the assistance of ROC USA, the Pine Tree Village Resident Association purchased their community (186 home sites on 54 acres), securing the long-term affordability of the park.
245 River Street was originally constructed for the purpose of producing yarn at Orswell Mills in the late 1800s. The renovated mill contains 180 residential units and 16,000 SF of commercial space. In the first development phase, 105 residential units were created, 27 of which are affordable.
Station Lofts is the adaptive reuse of The Knight Building, which was originally constructed in the late 1800s to manufacture quality men’s boots and shoes. Capstone Communities converted the historic building into 25 apartments, 14 affordable and 11 market rate. Station Lofts is in the heart of Brockton’s downtown area, and one block from the MBTA Commuter Rail Station.
McCarthy Village II is a 12-unit development sponsored by the Acton Housing Authority on a 2.5-acre site adjacent to the existing McCarthy Village development. This project created housing for extremely low-income households. Six units are dedicated to households with incomes below 30% of area median income. Three of these units are dedicated to families without housing coming directly from shelters.
City View Commons II is the second phase of a 377-unit, three-phase rehabilitation project undertaken by First Resource. Phase II improved 144 units in nine buildings. PCI is participating with MHIC on this financing.
Clay Pond Cove is Phase II of a three-phase development located on a 17-acre site in Bourne. Phase II included the new construction of a 3-story, elevatored building creating 45 units of affordable rental housing at 60% AMI. PCl is participating with MHIC on this project.
Sturgis Charter Public School is a successful charter high school in Hyannis that opened its doors in 1998. The school built a new facility to increase enrollment from 405 to a maximum enrollment of 800, for grades 9-12.
