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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BNN (Boston's local cable network), renovated the former MBTA Power Substation in the heart of Egleston Square, creating 8,620 SF on two floors plus a basement, for studio and other spaces specially designed for television production. By consolidating its operations in one location, BNN expanded its youth programs, enhanced its public presence, provided one-stop production services, produced more content for its channels, and diversified its revenue sources by producing more shows for hire.
The Bank of America Community Development Corporation (BACDC) purchased the historic Hamilton Manufacturing Company textile mills and created 236 residential units and 22,000 SF of commercial space in the Hamilton Canal District of Lowell. The project is in the City of Lowell's Jackson Appleton Middlesex Urban Revitalization and Development Area (JAM Area).
Urban Edge Housing Corporation (UE) acquired from the MBTA a parcel of vacant land adjacent to property already owned by Urban Edge on Hyde Park Avenue in Roslindale. Urban Edge constructed 13 new affordable, homeownership units on the combined site.
A well-established pediatric dentist purchased the commercial building in which her practice was located.
The Massachusetts Housing Investment Corporation (MHIC) was founded in 1990 by a consortium of banks and other corporate investors to fill a critical gap in meeting the credit needs of affordable housing, economic and community development projects. The federal New Markets Tax Credit Program provided an investment vehicle for MHIC to support economic development projects.
The Scituate Racquet & Fitness Club first opened in 1978 in Scituate. In 2006, the owners opened a second facility in Plymouth.
BELL (Building Educated Leaders for Life) was founded in 1992 by a group of Black and Latino students at Harvard Law School as a small tutoring program in Boston. BELL grew and evolved into the largest evidence-based summer learning provider in the U.S. and a national leader in PK-8 out-of-school time education.
The Crombie Street United Church of Christ in Salem has long operated a soup kitchen, a homeless shelter and a thrift shop. The acquisition of the St Mary’s Church complex from the Archdiocese of Boston allowed them to expand their services substantially to include life skills, vocational training in food services and transitional housing.
PCI participated in MassHousing’s construction loan for a proposed 99-unit homeownership development.
Villages at Stow is a 96-unit development on 36 acres. 60 units are single-family detached homes and 36 are townhouse style condominiums. 24 units are affordable for low- and moderate-income households (incomes no higher than 80% of the area median) and six units are affordable to households with incomes no greater than 120% of area median-income.
