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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Woodland Cove is a 150 mixed-income rental development being constructed in several phases. In all, the site includes 5 three-to-four-story elevator buildings. Phase III consists of the new construction of 24 affordable units in a three-story elevator building.
Berkshire Housing Development Corporation (BHDC) built 41 affordable, rental homes on a town-owned parcel. The project provides 11 units targeted to families and individuals at or below 30% of the Area Median Income (AMI) and the remaining 30 units target families and individuals at or below 60% of the AMI.
The Residences at Kelley’s Corner created 31 units of affordable rental housing for seniors and persons with disabilities. The new 3-story building at 446 Massachusetts Avenue in Acton offers walkable access to a supermarket, banks, retail stores and other services. Amenities include laundry, tenant storage spaces, common sitting rooms on each floor, as well as a three-season porch and outside seating.
Concord Square Development purchased 28 Petronelli Way from the City of Brockton to redevelop this historic, four-story 23,040 SF building in the downtown district into 18 market-rate rental homes. The development will honor the past use of the building as a boxing gym, where middleweight champion Marvelous Marvin Hagler trained.
The City of Boston’s Acquisition Opportunity Program (“AOP”) effectively prevents displacement by increasing the share of Boston’s rental housing stock that is protected from market forces. Using this program, Southwest Boston CDC acquired up to 30-units of market-rate rental housing in Hyde Park between 2019 and 2021, and subsequently restricted them to households earning 60% - 100% of AMI.
The Menkiti Group, a 100% minority-owned development company, acquired the former home of Performing Arts School of Worcester, and redeveloped it into a 24-unit rental apartment building in the heart of the Theater District of Worcester.
New construction of 48 units of affordable rental housing at two locations in Arlington. Sixteen units target extremely low-income households earning up to 30% of AMI, and 32 units target households earning up to 60% of AMI. The development also creates ground floor commercial/retail space to re-house a food pantry currently operating on the Broadway site.
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.
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.
Mason Square Apartments II is an adaptive re-use of two, vacant historic buildings into 60 affordable apartments. The buildings had been vacant for over 50 years and represent the final redevelopment piece of a city landmark -- the former Indian Motorcycle manufacturing mill complex which was in operation through the 1950s.
