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.
North Shore Community Development Coalition has a robust pipeline of affordable housing projects in development which, when completed, will nearly double the organization’s real estate portfolio. The streamlined predevelopment loan ensured that this important nonprofit, community developer had adequate liquidity to move the projects through the development cycle, efficiently.
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Indigo Block Apartments is the residential component (80 affordable rental units) of a mixed-use redevelopment project at 65 East Cottage Street in Dorchester, which abuts the Uphams Corner station platform on the Fairmount/Indigo Rail Line. Other project components include homeownership units and a commercial space.
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Indigo Block Commercial is the commercial component (21,000 SF) of a mixed-use redevelopment project at 65 East Cottage Street in Dorchester, on a vacant parcel that abuts the Uphams Corner station platform on the Fairmount/Indigo Rail Line. The commercial building is designed to be flex space for commercial or light industrial uses. Other project components include homeownership and rental units.
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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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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.
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 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.
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.
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.
The Crocker-Cutlery project is part of a larger revitalization effort in the village of Turner's Falls in the town of Montague. This project preserved and created 48 units of affordable housing for households with incomes at or below 60 percent of the area median income in the Cutlery Building. The Crocker building was leased to the U.S. Department of Fish and Wildlife.
The Dudley Inn consists of two pairs of three-story brick buildings. It is operated as a 68-room lodging house. Caritas acquired and substantially renovated the property to improve the quality of housing, while preserving affordability.
The Dunbar Community Center serves predominately Black and Hispanic disadvantaged youth. The Center renovated its existing building, creating office and classroom space, and built a 19,000 SF addition that included a gymnasium, locker rooms and showers, offices, classrooms, a dance studio, and a library.
Fields Corner Housing Limited Partnership (FCHP) refinanced eight multifamily homes and a small apartment complex to allow the 77 units to remain affordable to low and moderate-income residents.
The Greater New Bedford Community Health Center (GNBCHC) provides services to the medically underserved population in the greater New Bedford area.
NHSA supports Owner Occupied Housing Rehabilitation loan programs operated by NeighborWorks (NOWs) member organizations based in Massachusetts. The local NOW's provide home improvement loans to residents who cannot qualify to borrow from conventional lenders. NHSA purchases at par the loans made by NOWs, enabling the organizations to maintain loan funds.
The Plympton Elderly Housing Project was involved the construction of 40 one-bedroom apartments on a wooded parcel of land in rural Plympton. The development is a single, two-story elevator building and includes community and office space within the building to provide for tenant services.
Quantum Market Systems, Inc. (QMS) provides on-line market research to companies engaged in e-commerce.
The 25 Ruggles Street Assisted Living development provides safe and comfortable housing and a wide array of supportive services to 43 low-income, frail elders, including 18 formerly homeless adults aged 55 or older and 25 seniors aged 55 and older who are "nursing home eligible" but who wanted to continue to reside in the community.
The Focus Fund is a community loan fund serving greater Springfield. It was established to lend to businesses, nonprofit organizations, and health and day care centers that cannot obtain bank financing.
Urban Edge Housing Corporation is a nonprofit affordable housing and economic development organization that has served the Egleston Square and Jackson Square areas of Roxbury and parts of the Jamaica Plain neighborhood since 1974. Wardman Apartments required substantial rehabilitation to preserve 88 units of affordable housing, contributing to the stabilization of the neighborhood.
The Western Massachusetts Enterprise Fund, Inc. (WMEF) provides micro loans ($6,000 average loan amount) and small loans through its Enterprise Growth Fund (up to $50,000).
The Worcester Venture Fund, LP was established to invest in privately-owned, high-growth companies located in Worcester County. Each small business is typically characterized by high-growth potential in a large addressable market and high employment potential.
CASCAP, Inc. is a nonprofit organization committed to providing affordable housing for people with special needs, developing and managing properties, and supporting residents in their homes. Loan funds were used to purchase and renovate a vacant single-family home in Cambridge, which was converted to four studio and five one-bedroom units for low and moderate-income residents.
Casa Myrna Vazquez, Inc. (CMV) is a community-based organization dedicated to the eradication of domestic violence. CMV developed the Adolescent Transitional Living Program (ATLP), a supervised residence that provides a home for eight unhoused, battered, pregnant and post-partum adolescents and their children for up to three years.
Artist Tenants of the South End Cooperative Corp. (ATSE) is a limited equity cooperative in the South End that was organized to find and preserve low cost live-work space for its members. The ten founding artists acquired the cooperative space from the Boston Redevelopment Authority in 1998. They converted an abandoned, deteriorating building into seven affordable live-work units for twelve South End residents.
BCLF Ventures II is a $15 million fund that makes equity investments in growth-oriented businesses located in low-income communities across the state. Eligible companies are required to demonstrate a high potential for financial success, the ability to create jobs and bring stability and increased wealth to low-income neighborhoods in Massachusetts.
Established in 1988, the Chestnut Street Cooperative is a self-managed limited equity cooperative for low- and moderate-income individuals. The building contains six units: two low-income, two moderate-income and two market rate units.
Nuestra Comunidad is a nonprofit community development corporation serving Roxbury and North Dorchester. The funded project was the first to be completed under the City of Boston's Project Pride, a program designed to reclaim properties previously owned and operated by drug dealers. Nuestra's development of this abandoned property created six low-income rental units.
Established in 1984, the Park View Cooperative is a self-managed limited equity cooperative for low and moderate-income individuals.
NOAH is a nonprofit community development corporation serving East Boston. The Paz Properties project included the purchase and rehabilitation of three dilapidated buildings owned by the City of Boston. One of the buildings was renovated and sold to a first-time homeowner. The remaining six-unit apartment building and the commercial storefront were retained as rental units.
Victory Programs, Inc. was founded in 1975 to assist individuals recovering from substance abuse. Victory Programs renovated a 9-bedroom home for use as a 24-bed residential substance abuse treatment center for men, many of whom are navigating complex physical and mental health challenges.
Boston-based ACCION USA is a private, nonprofit organization that provides micro-loans and other financial services to low- and moderate-income entrepreneurs who are unable to access bank credit for their small businesses. ACCION is the largest micro-lender in the US. ACCION lending programs provide loans from $500 to $50,000.
This project transformed an existing deteriorated lodging house into 16 quality affordable SRO housing units that serve very low- and low-income individuals
Memorial Hall was constructed in 1921 to honor the Ipswich veterans of World War I. Adjacent to Memorial Hall are 33 elderly apartments owned and managed by the nonprofit Oak Hill, Inc. Oak Hill purchased Memorial Hall and created 7 elderly rental apartments that are linked by a covered walkway to Oak Hill's existing facility.
The 52,000 SF historic mill located at 215 Canal Street in Lawrence, known as the Levis building, is locally owned and provides renovated space for growing businesses and nonprofit organizations serving the greater Lawrence community.
