2023 Commitments

$2,000,000 Predevelopment line of credit to support infrastructure and site work for 108 affordable rental
housing units at Eagle Mill, a large historic paper mill complex.

$3,000,000 Acquisition line of credit renewal to support the creation of permanently affordable rental and ownership housing units and to preserve historic row houses.

$500,000 Revolving loan to bridge HUD grant funding during the construction of House of Hope, a new 14-room domestic violence shelter.

$3,000,000 revolving acquisition line of credit to Norfolk Design and Construction, a Black-owned development company, to facilitate preservation and the creation of 54 permanently affordable rental housing units.

$1,500,000 Construction bridge loan for Island Autism Group, Inc. to construct the Hub House, a community facility, farmstand and barn on Martha’s Vineyard.

$3,000,000 Line of credit renewal and increase to Community Economic Development Assistance Corporation (CEDAC) to support the predevelopment of 306 units of affordable housing across Massachusetts for the benefit of low- and moderate-income households.

$1,500,000 Predevelopment line of credit renewal and increase to Neighborhood Development Corporation of Jamaica Plain (JPNDC) to support their pipeline of projects, including 211 units of affordable rental and homeownership housing.

$3,154,580 Acquisition loan for Fenway Community Development Corporation to acquire a multifamily residential rental property to convert into affordable homeownership units.

$5,290,000 Construction loan to Causeway Development (formerly Traggorth Companies) and Neighborhood Development Corporation of Jamaica Plain (JPNDC) for the development of 45 deed-restricted, affordable, and workforce condominiums.

$3,037,500 Acquisition and predevelopment loan (50% participation of a $6,075,000 with PCI) to purchase a nine-unit rental property, as well as finance the predevelopment expenses for expanding the campus to provide childcare, and adult programs, redevelop 43 units of existing SRO housing serving low and very low-income individuals, and create new affordable housing.

$1,850,000 Construction loan to a Black owned developer to convert the former Kavanaugh Furniture store into 35 units of affordable housing and 10,000 square feet of office and retail space.

$5,000,000 Acquisition loan to acquire and preserve the long-term affordability of an existing, occupied 44-unit, senior apartment building known as Olympia Square Apartments in participation with CEDAC.