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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Urban Edge began the Egleston Crossing project with the purchase of the adjacent properties located at 3033 and 3089 Washington Street. The two properties were developed into 64 new units of affordable rental housing and 9,000 SF of retail space.
South Shore Housing purchased 3.57 acres of land in Wareham, removed the existing structures and created seven buildable lots on which they constructed seven single-family homes or duplexes. Two of the homes were sold as affordable housing and the remaining five at market rate.
Madison Park Development Corporation and Haley House were chosen by the Boston Housing Authority to rehabilitate and preserve the affordable housing at the Interfaith Housing Project. The completed project includes 70 affordable units.
The Basketball Hall of Fame developed an 18-acre parcel of land along the waterfront in Springfield. The $103 million redevelopment plan had five main components, the construction of a new Basketball Hall of Fame, a visitor center, retail/theatre space, and a Hilton hotel.
The New Bedford Economic Development Council, Inc. (NBEDC) operates small business loan program. The Micro Loan Program provides loans up to $30,000 that aim to create or retain jobs for low and moderate-income individuals in the community. The Competitive Capital Access Program provides loans up to $100,000 for small and medium-sized businesses that create or retain jobs in New Bedford.
Northstar Industries, Inc. (NSI), is a Massachusetts-based company specializing in the pre-manufacturing of a unique, patent-pending modular natural gas interconnect delivery station which allows energy companies to efficiently distribute natural gas from the pipelines to local consumer markets.
The Orange Wheeler 1 & 4 projects are part of a four-project neighborhood revitalization effort in Lawrence that The Community Builders (TCB) undertook. TCB substantially rehabilitated 7 buildings with 45 units of affordable housing for families and individuals with incomes at or below 60 percent of the area median income. Orange Wheeler 2 & 3 were completed first, followed by Orange Wheeler 1 & 4 renovation of 22 units.
The original stone mill building was converted into 35 units of rental housing. Units consist of flats and townhouses with most of them including two bedrooms. The eight affordable units are all two bedrooms, two of them are townhouses.
The Partnership Loan Fund provides affordable bridge loan financing for western Massachusetts nonprofit housing development organizations to meet their predevelopment overhead costs. HAP, Inc. administers the loan fund.
Kennedy Die Castings (KOC) Inc. serves several industries including electrical equipment, automotive, computer, builders’ hardware, and power tools. Refinancing the company’s commercial mortgage provided $800,000 in long-term working capital, created 15-20 new manufacturing positions and retained 200 existing positions in Worcester.
