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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Rees-Larkin renovated two vacant buildings and newly constructed a third building in the recently formed Moran Square Historic District in Fitchburg. After renovation, the existing buildings included 16 residential units and 1st floor commercial space, and the infill construction of a new 5-story residential building with 28 residential units.
Sunny Aroustamian is an experienced owner and operator of various automotive businesses including car washes, and a used car dealership, all located in Brockton, MA. PCI helped Sunny acquire Brockton Touchless, Inc. by providing financing to bridge an SBA 504 bond.
Kamran Zahedi, the principal at Urbanica, developed 90 Antwerp Street, a site formerly owned by Harvard University, into 20 for-sale homes. The design included partially interconnected buildings and publicly accessible open space. Eight units were sold to market buyers, and 12 units were sold to workforce buyers earning 80%-100% of AMI.
ARX Urban’s development at 233 Hancock Street in Dorchester replaced an auto repair shop with a five-story, mixed-income, mixed-use development containing 15 market rate units, 21 affordable units and ground-floor commercial space. The 21 rental units are affordable to households earning between 80% and 100% of median area income.
A mixed-use building at a transit-oriented site in Reading’s 40R District. Fifty-five residential units were created, with 14 units affordable for households earning up to 80% of area median income. Approximately 3,000 SF of first-floor retail space was also created. The property is within a five-minute walk to Reading’s commuter rail station.
The City of Brockton identified 93 Centre Street as a catalytic project for revitalizing downtown Brockton. Concord Square acquired the building from the Brockton Redevelopment Authority after its acquisition by means of eminent domain. The building was redeveloped into 45 rental apartments and first floor and basement commercial space. 20% of the units are affordable to people earning 80% of the area median income, and 36 are market-rate units.
Community Servings’ new 33,716 SF building supports its ability to serve 875,000 made-from- scratch and medically tailored meals to 4,000 critically ill individuals and their families, connect clients with Registered Dietitian Nutritionists to develop individualized nutrition care plans, and operate the Teaching Kitchen - a 12-week, job-training program for people interested in careers in the food service industry who face barriers to full-time employment.
Way Finders is the largest not-for-profit housing provider in western Massachusetts, impacting more than 25,000 men, women, and children, annually. They purchased the former Peter Pan Bus Station at 1780 Main Street in Springfield to create a 35,000 SF building to house a new integrated Housing Center which will consolidate and optimize services.
Father Bill’s & Mainspring is the largest provider of services to the homeless in southeast Massachusetts. This loan supported Father Bill’s to make capital improvements to its scattered-site portfolio of 20 affordable housing properties across southeastern Massachusetts.
The principals of Redline Hockey purchased the skating rinks at the Canton Sportsplex facility and the Boston Jr. Terriers hockey organization.
