Developments > Lawtons Corner
Lawton’s Corner, along with its companion project, Coffin Lofts, were among the first projects MHIC financed using New Markets Tax Credits and among the first NMTC projects in the country to get under way. In downtown New Bedford, six distressed historic buildings (Lawton’s Corner and Coffin Lofts) were transformed into retail/office and commercial space and mixed-income housing. The sponsors teamed up to transform this neighborhood, but would not have been able to complete the project without New Markets Tax Credit financing.
Lawtons Corner
Project at a Glance:
Location:
New Bedford
Development Type:
Commercial,Rental
Project Type:
Historic rehabilitation
MHIC Financing:
$445,000 in debt financing, $5,097,893 in NMTC financing
Sponsor:
Hall Keen, LLC
Number of Units:
17
Date Completed:
3/28/2006
Lawton’s Corner, along with its companion project, Coffin Lofts, were among the first projects MHIC financed using New Markets Tax Credits and among the first NMTC projects in the country to get under way. In downtown New Bedford, six distressed historic buildings (Lawton’s Corner and Coffin Lofts) were transformed into retail/office and commercial space and mixed-income housing. The sponsors teamed up to transform this neighborhood, but would not have been able to complete the project without New Markets Tax Credit financing.