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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Caritas Communities purchased the three-family property at 50 Winter Street abutting its 46 Winter Street property, a 17-unit SRO building in Quincy. This acquisition, together with the PCI financed acquisition of 46 Winter Street, will allow Caritas to develop 34 units of new, permanent supportive housing on the combined site.
Pennrose, in partnership with Hyde Square Task Force, is developing 55 units of affordable and workforce rental housing on the Blessed Sacrament church site that was sold by the Archdiocese of Boston in 2005. Included in the project design is a 250-person performing art space for youth programming and to celebrate the Afro-Latin arts.
Somerville Community Corporation is a nonprofit community development corporation that has built and preserved over 450 affordable homes and placed over 500 job seekers. The redevelopment of Bow Street and Linden Street Apartments preserves the affordability of 60 units in a rapidly gentrifying market well served by public transportation. 29 of the units are deeply affordable, targeting households at or below 50% of Area Median Income.
Father Bill’s & MainSpring is constructing the Brockton Housing Resource Center which will transform the way Brockton area individuals at risk of or experiencing homelessness are served, by emphasizing comprehensive, collaborative services as a first response. The new complex will include 128 shelter beds, an on-site health clinic, an expanded 24/7 homeless service center, and 32 studio apartments with supportive services for formerly homeless individuals at or below 30% of Area Median Income.
NorthStar Learning Center is creating a new 17,000 sq. ft. Early Education and Community Center in New Bedford. This new facility will combine and consolidate programming and administration into one new building that will better serve the needs of the organization and the community. The new Early Education Center will serve 135 children, compared to the 70 currently served. 100% of the clients served are very low-income and this is often the last place of hope for children kicked out of other centers. In addition to childcare, this center offers programming for families and older youth as well as mental health services.
North Shore Community Development Coalition (NSCDC) is converting a vacant building on an industrial property into 61 apartments. These 61 units will be affordable to very low-income households and may include intergenerational housing. Located in a prime neighborhood with strong school systems and public amenities, these apartments will provide its residents with ample opportunity.
The Somerville YMCA is undergoing a significant expansion and redevelopment. The expansion will enable the YMCA to triple the number of people they serve, as well as triple the number of childcare slots offered. The project will increase the amount of housing by 40-80 units as well as improving the already-existing housing by converting 43 Single Room Occupancy units to quality studios. The Somerville YMCA is a cornerstone of the community, and this project will increase the volume, as well as the variety, of services offered.
Civico Development and Rees-Larkin Development are working together to convert an industrial mill building into 63 units of affordable and workforce rental housing in Worcester’s Main South neighborhood. The development will also include space for two local food justice organizations, as well open green space that will be available to the community.
2Life Communities, an experienced and highly respected affordable housing developer focusing on senior developments, is constructing a new 68-unit affordable senior housing project. Leland Housing will serve seniors at 30%, 50% and 60% of Area Median Income.
Mill Cities Community Investments is a certified Community Development Financial Institution that combines targeted technical assistance and financing to support primarily Black and Latino businesses.
