Harmon Apartments was featured on the Novogradac Journal of Tax Credit. Click on the link to read more about Harmon Apartments.
During a Tuesday tour of the construction site for the 40-unit project, state officials praised the community for its strong commitment to providing affordable housing. Located on Spring Bars Road, Little Pond Place will offer 5 one-bedroom, 21 two-bedroom and 4 three-bedroom units, spread across four buildings on land to the west of Little Pond. All 40 units will be affordable. In 2016 after inviting proposals from developers, the town selected Affirmative Investments and the nonprofit Falmouth Housing Corp to develop the project. Affirmative Investments is no stranger to Falmouth, nor to its partner on the Little Pond Project. This is the sixth project Affirmative and Falmouth Housing Corp develop together. To read more about the Little Pond Project click here.
The Boston Home and City officials celebrated the unveiling of a more than $18 million housing project that provides support for adults with disabilities on mixed incomes — an initiative associated with increased housing goals from Mayor Martin Walsh, who said more attention needs to be geared toward the disabled community.
“It allows people to live with freedom,” Walsh told the Herald after a ribbon-cutting of the units at the Harmon Apartments on Dorchester Avenue. “It’s really built for people to live independently and we really have to try to do more of this in the city if we can. Instead of being in nursing homes, we should try and strive to get more people into these places.”
The project was completed by co-developers The Boston Home and Affirmative Investments. It was funded by the City of Boston, the Massachusetts Department of Housing and Community Development, MassHousing, Capital One Bank, National Equity Fund and The Boston Home.
The Connecticut Health and Education Facilities Authority (CHEFA), a Connecticut-wide tax-exempt financing authority, has hired Affirmative Investments to create a CDE and manage their New Markets Tax Credit Program. CHEFA’s mission is to help Connecticut-based non-profit organizations raise the funds needed to meet their goals of improving the health and education in Connecticut. With Affirmative’s guidance CHEFA now controls the sole CDE based in CT, the CHEFA Community Development Corporation, which will help further CHEFA’s mission.
Affirmative and CHEFA hosted a NMTC workshop on April 3rd, 2019 to inform local non-profit and community organizations of this new opportunity to use NMTCs to support their projects. Over 30 different non-profits from across Connecticut were in attendance. Dave Scheltz, Affirmative’s New Markets Tax Credit Program Manager, provided an overview of the NMTC program and then hosted two panels featuring representatives from MHIC, JP Morgan Chase, People’s United Bank, BlueHub Capital, Bristol Boys and Girls Club, and Generations Family Health Center. These representatives shared their experiences using the NMTC program in their various capacities with the attendees.
CHEFA CDC is actively developing a project pipeline for its 2019 application and has begun scheduling meetings with nonprofits to discuss potential projects. If you are interested in learning more and have a project you would like to share, please contact Dave Scheltz at (617) 367-4300 or email@example.com or Dan Kurowski at (860) 761-8432 or firstname.lastname@example.org.
Affirmative Investments, Inc. is proud to have worked on behalf of Conservatory Lab Public Charter school to close $12MM of NMTC Allocation and a $19.2MM tax-exempt bond to finance construction of a new school building that will house 275 students in Grades 3-8. The new building will be located at 395 Columbus Ave, just a few blocks from the planned Upham’s Corner Arts District and Conservatory’s school from grades K-2. With the new facility, Conservatory Lab will have permanent homes for all of its grades and enrich the community with its unique music-based curriculum. New Markets Tax Credits were provided by Civic Builders and PNC Bank. Citizens Bank purchased the tax-exempt bond that was issued by MassDevelopment.
Conservatory Lab’s new upper school will open for the start of the 2020-2021 school year.
Lee Goodman from Watermark Development, Inc. and Kate Barrand, CEO of Horizons for Homeless Children, broke ground on a major, 140,000 SF social services hub in the Jackson Square neighborhood of Roxbury. Horizons for Homeless Children is a nonprofit organization dedicated to improving the lives of young homeless children and their families. Horizons provides high quality early education, comprehensive family support services, opportunities for play, and statewide advocacy work. The Horizons Watermark Center, located at 1785 Columbus Ave, will allow Horizons to grow from 175 early childhood education slots to 225 slots and achieve financial independence by owning its own space. Other users of the building include:
- The Department of Children and Families, which will house 85 case workers and serve as DCF’s regional headquarters. The mission of DCF is to ensure that children are able to grow and thrive in a nurturing home environment through case management, foster care, and adoption services.
- YouthBuild USA, a non-profit that provides education, counseling, job skills and leadership training to at-risk and proven-risk youth ages 16-24
The project will open in the spring of 2020 and at full occupancy will bring over 400 new jobs to the Jackson Square area.
Affirmative secured $47.7MM of NMTC Allocation from MassDevelopment, Massachusetts Housing Investment Corporation, The Community Builders, Partners for the Common Good, The Rose Urban Green Fund, and Building America.
Mayor Martin J. Walsh joined local business and community leaders, families, children, and alumni to celebrate the completion of an expanded West End House Boys and Girls club in Allston, MA. Included are a substantial expansion of the teen center and the creation of a multi-purpose performing arts pavilion to showcase the work of youth participating in the club’s extensive arts programming. Over the past five years, total membership has grown by 50% and the center now provides a variety of services to more than 1,700 youth from across Boston.
L-R/back row: Joseph I. Mulligan III, Board Vice President; Mayor Walsh; Andrea Howard, West End House CEO; State Rep. Kevin Honan, D-Allston-Brighton
Community Servings, whose $21 million expansion was financed by the AI team, was featured in the New York Times this August. The Times noted that Community Servings’ “food as medicine” approach, which focuses on controlling or curing chronic illnesses by changing what people eat, provides a national model for organizations who provide “medically tailored meals.”
AI is proud to have found Community Servings $20 million of NMTC allocation and is excited for the 31,000-square-foot “food campus,” which will house a kitchen large enough to prepare as many as 1.5 million meals a year, healthful entrees that these days include quinoa burgers, turkey tender Parmesan and sweet potato lentil soup. The facility will also include a learning kitchen for job training, classrooms for nutrition education and a policy center focused on teaching other groups how to replicate the organization’s model.
For the full New York Times article, see here.
After over a decade of planning the Hartford Community Loan Fund, with support from Affirmative Investments, received $8.5 million loan from the state of Connecticut’s bond commission to develop the City of Hartford’s second full-service grocery store. The $23 million supermarket project would anchor the “Healthy Hartford Hub.” Starting with the supermarket, a teaching kitchen, a café and parking, the hub would focus on providing shopping options for fresh foods and how to prepare them. The hub could later be expanded to include a pharmacy, medical clinic, exercise space and, possibly, housing. If all approvals and financing are secured, construction on the supermarket could start in a year, and take 18 months to complete. If successful, the development would end more than a decade of failed efforts.
AI is excited to supporting the City of Hartford and the HCLF in this important project, and is able to bring its experience and expertise from past projects, including Vicente’s Supermarket and Tropical Foods International to the development team. To read more on the project in the Hartford Courant, click here.
After many years of seeking redevelopment options for their property at 41 N. Margin St. Knights of Columbus have proposed building 23 affordable elderly apartments. Ground floor space would also house a new council headquarters for the Knights. Motivated by the recent loss of affordable housing in the North End at 145 Commercial St. and the Mercantile Building, the KoC intend to arrange a 99 year lease to the non-profit East Boston Community Development Corp. (E.B.C.D.C.) that will develop and manage the property. There will be 3 units on the first floor and 5 units on the upper four floors as part of the 5-story building. General affordability requirements would be for those with incomes up to $45,000 while the elderly notation means those at least 62 years old. Public financing would be used and tenants would be selected via lottery.