Today, we closed an $8,000,000 New Markets Tax Credit Allocation to Esperanza Academy in Lawrence, MA to support the development of a new 31,500 square foot school to improve education access for low-income girls!
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MHIC Closes $8 Million New Markets Tax Credit Allocation to the Boys and Girls Club of Greater Lowell
We are thrilled to announce that on Friday we closed an $8 million New Markets Tax Credit Allocation to the Boys & Girls Club of Greater Lowell, providing critical gap funding to support the Club’s effort to renovate and expand their existing facility.
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MHIC's New Markets Tax Credit Allocation to Connecticut Center for Arts and Technology, Inc.
MHIC closed a $7,000,000 New Markets Tax Credit Allocation to the Connecticut Center for Arts and Technology 'ConnCAT' today! This investment will support the construction and operation of a 65,000-square-foot, multi-tenant community services building, hosting workforce training, affordable childcare, mental and behavioral healthcare, as well as economic development initiatives.
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MHIC Closes a $7.5 Million New Market Tax Credit Allocation to People Inc.
MHIC is thrilled to announce the closing of a $7.5 million New Market Tax Credit allocation to People Inc., filling a gap in their financing to construct their new, 19,800 square foot early childhood education and family support center in Fall River, MA!
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Townsend and Harold Acquisition Closing
We are proud to announce that MHIC’s first transaction as the administrator of the Boston Acquisition Fund (BAF) closed last week! This financing supports nine units of naturally occurring affordable housing (NOAH) across two buildings in Roxbury, ensuring they remain accessible to residents for generations to come.
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Moddie Turay Speaks at the Bisnow Affordable Housing Conference
Today, we attended Bisnow's Affordable Housing Conference, where our President and CEO, Moddie Turay, was a featured panelist. The event brought together industry leaders, experts, and visionaries in the affordable housing field to discuss the future of housing affordability.
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NorthStar Learning Center Ribbon Cutting
The state-of-the-art early childhood education, care, and community center is located in the heart of the city and accessible by public transportation. It offers additional learning and childcare spaces, accommodating 65 more low-income children and allowing for 24 more children to be accepted through referrals from the Department of Children and Families.
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Fairlawn Apartments Aquisition
Today, we joined residents, city officials, and partners to celebrate the acquisition of Fairlawn Apartments (formerly SoMA at the T) in Mattapan. Fairlawn Estates had previously faced increased rents that put residents at risk of eviction.
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In Memory of William P. Nickerson
It is with deep sadness that we share the passing of William "Bill" P. Nickerson. He was a valued member of the NMTC Advisory Committee since 2014 and a supporter of MHIC's work since 2003. His unwavering commitment and dedication to our work, particularly in identifying investment opportunities in low-income communities, helped shape the direction of our efforts.