Developments > 2201 Washington Street
MHIC’s New Markets Tax Credit financing made it possible for Madison Park Development Corporation to substantially upgrade a 3-story commercial property in the heart of Roxbury’s Dudley Square, where MHIC has financed several other projects. The Massachusetts Department of Transitional Assistance — a state agency that provides transitional assistance to low-income families — now occupies three floors (80% of the previously vacant space). The redevelopment of this building ensures the retention of major tenants, including three city agencies that provide economic development assistance to area businesses. The building houses approximately 222 full-time employees, an increase of at least 40 full-time jobs over the previous occupancy.
2201 Washington Street
Project at a Glance:
Location:
Boston
Development Type:
Commercial
Project Type:
Rehabilitation/redevelopment
MHIC Financing:
$730,000 in debt financing, $6,587,825 in NMTC financing
Sponsor:
Madison Park Development Corporation
Date Completed:
6/01/2007
MHIC’s New Markets Tax Credit financing made it possible for Madison Park Development Corporation to substantially upgrade a 3-story commercial property in the heart of Roxbury’s Dudley Square, where MHIC has financed several other projects. The Massachusetts Department of Transitional Assistance — a state agency that provides transitional assistance to low-income families — now occupies three floors (80% of the previously vacant space). The redevelopment of this building ensures the retention of major tenants, including three city agencies that provide economic development assistance to area businesses. The building houses approximately 222 full-time employees, an increase of at least 40 full-time jobs over the previous occupancy.