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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Brockton Housing Resource Center includes 128 shelter beds, an on-site health clinic, an expanded 24/7 homeless service center, and 32 studio apartments for formerly homeless individuals at or below 30% of median income. The Resource Center will transform the way Father Bill’s & MainSpring serves Brockton area individuals at risk of or experiencing homelessness by emphasizing comprehensive, collaborative services as a first response.
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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A largely vacant, historic building on Main Street in downtown Brockton will be rehabilitated into 35 residential units and 8,000 SF of commercial space, with parking in a rear parcel. This project is closely aligned with the City of Brockton’s vision for a vital downtown district - mixed-income housing on the upper floors and retail on the ground floor.
The Bryant Hotel is an historic hotel located in the heart of downtown Brockton. Steven Young purchased and is operating the property as a hotel while he advances planning for the redevelopment of the property as a 40-unit market rate rental property. This project supports the City of Brockton’s strategy to expand the supply of market-rate housing options, downtown.
ARX Urban acquired a property at 85-89 & 93 Central Street in Waltham and planned to redevelop the building into 40 units of mixed-income residential, with 25% affordability. The property is located in the heart of Waltham’s “Moody & Main” district, with excellent access to public transportation, a walking and bike trail along the Charles River, retail, restaurants and entertainment venues.
In the first phase of the adaptive reuse of the Knox Automobile Company complex, First Resource created 55 new affordable units, which, together with the 41 new affordable units in Phase II, resulted in a community of 96 total units in renovated buildings in the Mason Square neighborhood in Springfield.
Nubian Ascends Partners plan to convert the Blair parking lot, in the heart of the Nubian Square neighborhood in Roxbury, into a vibrant center of community interaction, artistic and cultural activity, culinary marketplace and restaurant, culinary training, life science training center, affordable artist condos, and artist studio and collaboration spaces. It will also create a 300-space parking garage.
Father Bill’s & MainSpring is developing a new model of emergency shelter, permanent supportive housing, and services for unhoused individuals in Quincy. The focus is on preventing individuals from becoming homeless, diverting individuals to housing or treatment, and rehousing individuals, rapidly. The new multi-use Resource Center includes a day center offering a wide array of resident resources, including a health clinic, a new emergency shelter facility, a
Two non-profit developers teamed up to create 49 units of affordable rental housing in five townhouse style buildings in the town’s Smart Growth Overlay District (40R district) which was created in 2017 to increase density to create more affordable housing. All units are restricted to households at or below 60% of AMI, with 30% of the units restricted at 30% of AMI. Four of the units are handicap accessible.
Dakota’s Woodland Cove project, comprising 150 mixed-income apartments, is being built in three phases to Passive House energy efficiency standards. The project is 100% affordable at 30%, 60% and 100% of AMI.
