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Glen Brook Way Phase I

Glen Brook Way Phase I

Medway, MA
United States

Metro West Collaborative Development is creating 48 affordable rental homes in Medway, MA, the first phase of Glen Brook Way. Phase I of the project includes the development of four buildings on one 3.2-acre site. The buildings will provide 17 one-bedroom units, 20 two-bedroom units, and 11 threebedroom units, as well as parking. Five units will be fully accessible. Community amenities include a tot lot, bicycle parking, laundry facilities in every building and ample storage. Upon completion of Phase II, all residents will have access to a community room with a kitchen, patio, and barbecue area.

Sponsor
Metro West Collaborative Development
Source
LIHTC Financing
Financing Total
$8,900,000
Impact

This project responds to the scarcity of affordable housing and long waiting lists for rentals in Medway; when both phases are complete, the town will exceed the state’s minimum target.

Affordable Housing

Parcel 25 Phase II

Parcel 25 Phase II

Boston, MA
United States

Parcel 25 Phase 2 is a new five-story building with 46 affordable rental apartments in the Mission Hill neighborhood of Boston. Located directly across from the Roxbury Crossing MBTA station, the development is the second of a three-phased affordable housing project at Parcel 25 undertaken by Mission Hill Neighborhood Housing Services, Inc. (MHNHS). Eastern Bank and Boston Private were the investors. Phase 2, located at 1 Halleck Street, consists of the construction of 46 affordable rental homes. The development will include a 29-space parking garage and a community room on the first floor of One Gurney Street, immediately across from 1 Halleck Street.

Sponsor
Mission Hill Neighborhood Housing Services
Source
LIHTC Financing
Financing Total
$12,600,000
Impact

Affordable housing creation.

Affordable Housing

Whittier Street Phase 2A

Whittier Street Phase 2A

Boston, MA
United States

This initiative seeks to provide healthy, safe, and accessible affordable housing to the Lower Roxbury community and transform the Whittier Street public housing development. Phase 2A consists of the new construction of two buildings with 52 residential units, of which 45 will be LIHTC units and seven will be workforce housing.

Sponsor
Preservation of Affordable Housing (POAH), the Boston Housing Authority, Madison Park Development Corporation, and the Whittier Task Force.
Source
LIHTC Financing
Financing Total
$9,800,000
Impact

The development received federal Choice Neighborhood grants that support locally-driven strategies to address struggling neighborhoods with distressed public or HUD-assisted housing through a comprehensive approach to neighborhood transformation. When completed, the whole development will encompass approximately 386 mixed-income rental apartments and ground floor commercial space in one of the buildings.

Affordable Housing

UHomes

UHomes

Boston, MA
United States

This homeownership project consists of 20 townhomes, including 12 affordable homes on Antwerp Street in Boston’s Brighton neighborhood. The development will also create over 10,000 square feet of publicly accessible open space to benefit the neighborhood.

Sponsor
Urbanica
Source
Predevelopment Loan, HNEF investment, and construction loan participation
Financing Total
$4 million
Impact

Over the years, this neighborhood has undergone a major transformation – from a largely blighted area with a vacant shopping center and other dilapidated buildings or underused structures – to an attractive mixed-income neighborhood with both affordable and market rate rental apartments and homeownership condominiums, retail establishments, a community center and many other amenities.

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

Van der Heyden

Van der Heyden

Springfield
MA
United States

The Van Der Heyden project involves the preservation of a single high rise multifamily building containing 45 units.

Sponsor
Valley Management, Inc.
Source
Housing Tax Credits: $8,775,031; Loan: $115,907
Financing Total
$8,890,938
Impact

Affordable Housing Preservation: 45 units of housing for very- and extremely-low-income households.

Affordable Housing

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

Yellow Barn Business Accelerator

Yellow Barn Business Accelerator

Hardwick
VT
United States

The Yellow Barn Business Accelerator is the culmination of a six-year effort spearheaded by the Town of Hardwick and the project sponsors. The town purchased the iconic “Yellow Barn” and the 4-acre site in 2019 to repurpose for economic development. The core mission of the project is to strengthen the regional farm- and food-based economy by supporting the growth of agricultural businesses, promoting development of new products, and increasing export to external markets. The 6,172 square foot historic barn, which is listed on the state’s historic register, also will be preserved and renovated into a retail destination by Cabot Creamery for its signature cheeses and to showcase other local agricultural products.

Sponsor
Northeast Kingdom Development Corporation and Northeastern Vermont Development Association
Source
NMTC: $3,880,000; Loan: $2,535,000
Financing Total
$6,415,000
Impact

Downtown Revitalization; Economic Opportunity; Community Services and Facilities; Implementing Community Vision

Healthy Communities

22 Elm Street

22 Elm Street

Worcester, MA
United States

22 Elm Street is the revitalization of an existing downtown Worcester office building into 22 affordable homeownership condominiums.

Sponsor
Planning Office for Urban Affairs
Source
Loan
Financing Total
$1,900,000
Impact

Affordable housing creation: 22 homeownership condominiums

Affordable Housing