News

Financing for mixed-use developments on more flexible terms than is normally available

BOSTON, May 21, 2014 --- In its ongoing effort to promote the revitalization of low-income neighborhoods, the Massachusetts Housing Partnership (MHP) is now offering a New Markets Tax Credit Lending Program, thus providing a new source of capital for the redevelopment of downtown buildings into housing with some commercial or retail space.

PAXTON, May 20, 2014 --- U.S. Rep. James McGovern joined state and local leaders recently for the grand opening of Paxton Hills, a 50-unit affordable rental apartment building for seniors.

WORCESTER --- A different type of revival is happening off Main Street as you head out of downtown Worcester. Since the late 1990s, the Main South CDC has partnered with the city and Clark University to raze or fix problem properties, develop 160 new homes, a new Boys & Girls Club and do cleanup work on a site that will become athletic fields.

CHELSEA, May 14, 2014 --- The remaking of an abandoned industrial area known as the Box District marked another milestone recently as Gov. Deval Patrick was on hand to celebrate the completion of the Flats at 44 Gerrish and to help break ground on an abutting development that will be known as the Flats at 22 Gerrish.

MASHPEE, April 20, 2014 --- Community leaders gathered with lenders on April 17 to celebrate the completion of Great Cove Community, a 10-home affordable rental development for families developed by the Housing Assistance Corp. of Cape Cod.

BOSTON, March 25, 2014 --- The Massachusetts Housing Partnership put its bank-funded loan pool to work this past fall and winter, committing over $19 million for the financing of 315 units of rental housing across Massachusetts.