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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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.
