Innovative Financing to Create and Sustain Healthy, Equitable Communities
Developments > 2201 Washington Street

2201 Washington Street

Project at a Glance:
Development Type:
Project Type:
MHIC Financing:
$730,000 in debt financing, $6,587,825 in NMTC financing
Madison Park Development Corporation
Date Completed:

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.