The ribbon-cutting ceremony marked the opening of the new 43,000 square-foot Alma Del Mar Charter School in New Bedford, MA. The new building will allow the school to grow from 240 to 450 “scholars”. Affirmative assisted Alma del Mar in securing and structuring $14.75 million of NMTC allocation from MassDevelopment and Chase and $9.76 million of tax-exempt bond financing from Boston Private Bank. Will Gardner, headmaster of Alma, said that the building was new but the “school’s goal to put students on the path to college and challenge them to become service-based leaders remains”. The students sing about their goals in the video below.
August 15, 2016- Three projects that Affirmative is working on won 9% Tax Credits and State Resources that will allow them to move forward to closing and construction. Harmon Apartments, in South Dorchester, a Co-Development of Affirmative and The Boston Home, will create 36 units of housing for residents with neurological disabilities. 30 of the 36 units will be affordable. Paris Village a project of East Boston CDC, will create 32 units of affordable family housing in the rapidly gentrifying East Boston. Lincoln Senior Housing, a project of Bristol Pacific, will create 48 affordable senior housing units in Dartmouth, MA. We anticipate closing all three projects in the first quarter of 2017.
July 2016- Franhofer Center for Sustainable Energy Systems, a research and office facility located in South Boston, has recently been recognized by the Boston Society of Architects for a Sustainable Design Award.
June 01, 2016- A $95 million facility in Holyoke that was built four years ago for research projects that require intense computing is already at a point where it needs more computer power. Harvard University will be leading a $1.6 million expansion. Affirmative secured $50 million of NMTC allocation for the construction of the data center in 2011. The Massachusetts Green High Performance Computing Center, will increase the computing power capacity so that researchers will be able to conduct more expirements faster and more comprehensively. Click Here to read more on the expansion of MGHPCC.
April 30th, 2016- Artists for Humanity celebrated its 25th year anniversary with the “Greatest Party on Earth” which drew 700 guests. AFH produced this video to mark the occasion. Affirmative Investments is currently working with Artist for Humanity on undertaking a 52,000 SF expansion of its current EpiCenter building in Boston, MA.
April 19, 2016- YES! Magazine featured Brockton Neighborhood Health Center and Vicente's Supermarket in an article called, "How a Health Clinic Made a Local Grocery Store Part of Its Perscription" Together, BNHC and Vicente's tapped into a complex mix of public, private, and philanthropic funding to help open the doors, including $12 million assembled from the Local Initiatives Support Corporation's (LISC) national lending pool and Healthy Futures Fund. The thinking behind the partnership was basic: Good nutrition is a critical component of good health. Indeed, with nearly one in four Brockton residents living in poverty- along with high rates of diabetes and obesity, and a population of immigrants and first generations residents for whom food is cultural touchstone, it would be difficult to tackle chronic health conditions without a focus on food. The result is a level of community outreach an on-site education built on the expertise of both BNHC and Vicente's. The health center offers a range of primary care, urgent care, dental, vision, and mental health services, along with teen programs and nutrition counseling.
March 21, 2016 – The March issue of The Atlantic Monthly includes an article about Pittsburgh’s City of Asylum, a not-for-profit agency that provides sanctuary, working space and housing for exiled writers from around the world, including China, Burma, Bangladesh, El Salvador and Iraq. Affirmative Investments worked with Pittsburgh Urban Initiative to help structure a New Markets transaction to restore a former Masonic Temple into a neighborhood literary center, which will house a restaurant, a bookstore, offices, apartments and performance space. Click here to read The Atlantic Monthly article.
January 22, 2016- Galvan Foundation is pleased to announce completion of Galvan Armory, located on the northwest corner of Fifth and State Streets in the city of Hudson, NY. Construction began May 2014 and involved gut renovation of the entire 18,000 square feet structure. As a project sponsor, the Galvan Foundation is responsible for financing, design, development, and construction activities. The project was also supported by generous contributions from Coastal Enterprises New Markets Tax Credit allocation, Hudson Area Library, the City of Hudson, and Hudson River Bank and Trust Foundation. The Project was constructed using local project management, engineers, and contractors. Initial occupancy is set for February 15, 2016. To learn more about the Galvan Foundation CLICK HERE.
Affirmative Investments is a mission-driven finance and development firm that partners with community-based organizations to deliver projects that stimulate economic development, expand housing opportunities, and deliver critical services in low-income communities.
