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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The Lower Cape CDC completed the moderate rehabilitation of a duplex in Eastham to create two affordable two-bedroom family rental units.
MB Capital Fund - II is a $12 million mezzanine fund established by the Massachusetts Business Development Corporation to provide mezzanine financing ($250,000 - $750,000) to Massachusetts small businesses in need of growth capital. Typical loans are provided to conventional, labor intensive, low or medium-tech manufacturing, assembly, or distribution companies.
The New England Homes for the Deaf constructed a new, state-of-the art 60-bed facility for the deaf and deaf/blind. Half of the units are operated as a nursing home and the other half as a rest home with a less intensive level of services.
The Niagara Court project was part of a larger revitalization effort in Fall River's Niagara neighborhood. The project substantially rehabilitated 40 units of affordable family housing in nine buildings.
This mixed-use development restored two large, brick buildings in downtown Holyoke and added two new three-family houses to the residential area a block away. The rehabilitated buildings and the six new construction units created 33 affordable rental units.
The Jamaica Plain Neighborhood Development Corporation (JPNDC) completely rehabilitated five mostly vacant three-family buildings, known as the Rockvale Circle properties. The buildings are located adjacent to each other and in their prior condition the properties were a source of blight on the block.
SEED Ventures, LP is managed by the Southeastern Economic Development Corporation, (SEED), created to assist the startup and expansion of small businesses in the region. The $14.5 million fund invests in growth-oriented businesses primarily located in low and moderate-income communities. The average investment is between $500,000 and $750,000.
The Sirk Building located in downtown Lowell was completely rehabilitated and restored in accordance with historic preservation guidelines. There are 17 studios, 1 two-bedroom unit, and 28 one bedroom units with bath and kitchen facilities in each. The first floor remains as commercial space. Additionally, a resident service coordinator helps tenants locate assistance for job training and other social services. The space also houses a computer-training center for resident use.
The historic Walter Baker Chocolate Factory administrative building was converted into 13 loft apartments where artists currently live and work. Keen Development converted the main factory building across the street into mixed income apartments. The rehabilitation of this building complements the already renovated buildings in the area.
Caritas Communities acquired and substantially rehabilitated the Chestnut Street property to create 26 SROs and one manager's unit, six shared bathrooms, a large common kitchen and a first-floor common area.
