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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Oaktree acquired an underutilized and deteriorating building and replaced it with a 20-unit condominium development. Two of the units are affordable to households with incomes at or below 80 percent of the area median income.
WATCH, a nonprofit affordable housing developer in Waltham, purchased 509-517 Moody Street in downtown Waltham. WATCH relocated its offices to one of ground floor units. There are two additional commercial tenants on the first floor, and seven affordable rental units on the second floor.
ArtBlock is a newly constructed condominium development in Boston's South End near the Boston Medical Center. 54 units were constructed in two buildings with an existing art center in between. Many of the units are lofts for artists and one of the buildings has a gallery space on the first floor. 26 units out of 54 total units were affordable.
The Chelsea Neighborhood Housing Services partnered with Mitchell Properties to purchase the Atlas Mattress Factory and develop 117 units of mixed income homeownership and rental housing in the Box District in Chelsea.
As part of the Boston Archdiocese's sale of church property, the Blessed Sacrament Church Campus on Centre Street was offered for sale. The Jamaica Plain Neighborhood Development Corporation in partnership with the New Atlantic Development Corporation purchased the properties (the church, two school buildings, a rectory, and a convent). The campus was redeveloped with a mix of affordable and unrestricted homeownership and rental housing units. PCI participated with BlueHub Loan Fund on this transaction.
High Point Treatment Center is a non-profit offering a comprehensive range of behavioral health services. High Point purchased a former nursing home and relocated its treatment programs to better serve their clients.
In 1920 Elizabeth Joyce, one of America's first female entrepreneurs, founded Joyce Letter Shop to provide typing and clerical services to the local banking and investment communities. Today, the company offers mailing, printing and digital communication services.
Makeovers was established in 1987 with a small salon occupying 1,700 SF in Milton. To accommodate additional growth, the owners leased and built-out a 9,000 SF unit in a strip mall in South Easton.
New England Home Therapies was established in 2000 to offer infusion and respiratory therapy, disease management consulting services, durable medical equipment, and other home healthcare services, such as nutritional consultation.
Praise & Glory Church of God in Christ, Inc. purchased an abandoned 8-story historic building in downtown Springfield. This transaction allowed the church to expand its ministry and commitment to serving the community including the Hebron Food Bank that serves approximately 300 families per week.
