Displaying 10 - 18 of 23

Village at Park River Phase V

Village at Park River Phase V

Hartford
CT
United States

Village at Park River Phase V includes the new construction of 58 units of affordable and market rate housing. The project is one phase of a six-phase development that includes the overall new construction of over 400 homes.

Sponsor
Pennrose
Source
Loan: $3,000,000
Financing Total
$3,000,000
Impact

Affordable housing creation: 58 mixed-income units (46 affordable); Neighborhood revitalization: redevelopment of Westbrook Village.

Affordable Housing

UTEC Woodworking Social Enterprise Center

UTEC Woodworking Social Enterprise Center

Lowell
MA
United States

The United Teen Equality Center (UTEC) Woodworking Center will expand UTEC’s Woodworking Social Enterprise program. This highly successful job training program helps transform the lives of youth ages 17-25 who are out of school and have been involved with gangs or are returning from incarceration. The project will renovate and fit out two buildings into classroom and additional program space and allow UTEC to purchase additional specialized equipment.

Sponsor
UTEC
Source
NMTC: $4,365,000
Financing Total
$4,365,000
Impact

Community Impact: Increase the number of proven-risk young adults that UTEC can serve in its transformative social enterprise program by 179% and better serve those young adults.

Community Impact

Rosewood Way

Rosewood Way

Agawam
MA
United States

The Rosewood Way project comprises the new construction of 10 townhome-style buildings containing 62 units, and a standalone community building. The project will increase the supply of affordable and mixed-income housing in a suburban area with a high demand for affordable rental housing, but limited affordable housing stock.

Sponsor
Way Finders Inc.
Financing Total
$10,503,950
Impact

Affordable Housing Creation: 47 LIHTC and 10 workforce units.

Affordable Housing

Prospect Estates Resyndication

Prospect Estates Resyndication

Webster
MA
United States

The Prospect Estates Resyndication project involves the historic rehabilitation of two mid-rise multifamily buildings. The development will preserve 25 units of affordable housing.

Sponsor
Affordable Housing Services Collaborative, Inc.
Source
Housing Tax Credits: $6,148,781; Loan: $147,614
Financing Total
$6,296,395
Impact

Affordable Housing Preservation: 25 units of housing for 30% AMI, 50% AMI, and 60% AMI households.

Affordable Housing

Merrimack Corner

Merrimack Corner

Haverhill
MA
United States

Merrimack Corner is the new construction of 48 units of affordable rental housing for seniors. The development will include a newly constructed 5-story building on vacant land adjacent to the existing Merrivista property, a senior residential building owned by Bethany Community Services.

Sponsor
Bethany Community Services
Source
Housing Tax Credits: $9,599,040
Financing Total
$9,599,040
Impact

Affordable Housing Creation: 48 new affordable rental housing units for seniors.

Affordable Housing

LeClair Village

LeClair Village

Mashpee
MA
United States

LeClair Village will create 39 units of affordable family housing in three newly constructed buildings. The project is led by the Preservation of Affordable Housing in partnership with Housing Assistance Corporation.

Sponsor
POAH and Housing Assistance Corporation
Source
Housing Tax Credits: $9,849,015
Financing Total
$9,849,015
Impact

Affordable Housing Creation: 39 affordable apartments are being created with eight units restricted to households earning at or below 30% of AMI and 31 units restricted to households earning at or below 60% of AMI.

Affordable Housing

117 Union Street

117 Union Street

117 Union Street
New Bedford, MA
United States

The project involves the creation of 45 units of mixed-income rental housing for families and individuals through the adaptive reuse of a historic building and new construction of a 5-story building on a vacant parcel.

Sponsor
New Bedford Development Corporation (NBDC)
Source
Housing Tax Credits: $9,499,050
Financing Total
$9,499,050
Impact

Affordable Housing Creation: new construction of 32 units of affordable housing and 13 units of moderate/workforce housing; Downtown Revitalization: the project will complement other recent initiatives in downtown New Bedford, such as streetscape improvements, private redevelopment of historic structures, and other planned investments in New Bedford, including the new commuter rail station that is currently under construction.

Affordable Housing

Fair Haven Community Health Care

Fair Haven Community Health Care

New Haven
CT
United States

The Fair Haven Community Health Care project includes the construction of a new 33,700 square foot community health center facility for Fair Haven Community Health Clinic.

Sponsor
Fair Haven Community Health Clinic, Inc.
Source
NMTC: $6,014,000
Financing Total
$6,014,000
Impact

Economic Opportunity: Creating 50-60 jobs, all above living wages with benefits; Enhancing Health Outcomes: Capacity to serve 5,600 more patient visits annually.

Healthy Communities

Elizabeth Brook Apartments

Elizabeth Brook Apartments

Stow
MA
United States

The Elizabeth Brook Apartments project includes the renovation of an existing 50 units of affordable elderly housing in six 2-story walkup residential buildings and a 1-story clubhouse building developed in 1983. The project also includes a two-bedroom free-standing, 1-story single family home built in 1915 that will also be renovated. In addition, 37 units will be newly constructed in one 3-story elevator building with common areas.

Sponsor
Stow Elderly Housing Corporation
Source
Loan: $7,000,000
Financing Total
$7,000,000
Impact

Affordable Housing Creation: The preservation of 50 units and the creation of 38 units of restricted affordable rental housing for elderly households aged 62+ with incomes at or below 60% of AMI.

Affordable Housing