Developments > Warren Palmer
This project represents the first new construction of a commercial building in Dudley Square in 40 years. With MHIC’s New Markets Tax Credit financing, the Jubilee Christian Church International constructed a 3-story office/retail complex on a long vacant site. The City of Boston tried to develop this site for over a decade, but even with substantial city funding and an equity infusion by the sponsor, the project still had a substantial equity gap until MHIC provided the New Markets financing.
Warren Palmer
Project at a Glance:
Location:
Boston
Development Type:
Commercial
Project Type:
New construction of commercial building
MHIC Financing:
$8,619,834 in NMTC financing
Sponsor:
Jubilee Christian Church
Date Completed:
3/31/2007
This project represents the first new construction of a commercial building in Dudley Square in 40 years. With MHIC’s New Markets Tax Credit financing, the Jubilee Christian Church International constructed a 3-story office/retail complex on a long vacant site. The City of Boston tried to develop this site for over a decade, but even with substantial city funding and an equity infusion by the sponsor, the project still had a substantial equity gap until MHIC provided the New Markets financing.