MassDevelopment has issued an approximately $6.89 million tax-exempt bond for The Neighborhood Developers, a nonprofit community development organization in Chelsea. TND is using bond proceeds to buy and demolish a building at 242 Spencer Ave. in Chelsea to build, furnish and equip a 4-story, 34-unit rental apartment facility in its place.
MassDevelopment has provided a $10.9 million New Markets Tax Credit allocation to Artists For Humanity (AFH), a Boston nonprofit youth arts enterprise and one of the largest on-site employers of youth in the city.
MassDevelopment has issued a $4.1 million tax-exempt bond and a mortgage guarantee for ServiceNet Inc., a human services organization based in the Pioneer Valley.
MassDevelopment has issued $24.5 million in tax-exempt bonds for Atlantis Charter School in Fall River. The School is using bond proceeds to build, furnish and equip a 98,000-square-foot, 3-story building that will house classrooms, a gymnasium, administrative offices and common areas. Atlantis Charter School is also using bond proceeds to build and equip an outdoor athletic field.
MassDevelopment has provided a $100,000 TechDollars loan to the Whitin Community Center in Whitinsville.
MassDevelopment has issued a $20 million tax-exempt bond for Brandeis University, a private university in Waltham.
MassDevelopment has issued a $29.7 million tax-exempt bond for Merrimack College in North Andover and Andover.
MassDevelopment has issued $22.8 million in tax-exempt bonds for Lutheran Home of Jamaica Plain Inc., a subsidiary of Ascentria Care Alliance Inc. Ascentria used bond proceeds to buy Laurel Ridge Rehabilitation & Skilled Nursing Center, a 120-bed skilled nursing facility in Boston’s Jamaica Plain neighborhood. Berkshire Bank purchased the bonds.
MassDevelopment recently purchased a former pawn shop in Worcester through its Transformative Development Initiative (TDI) Equity Investment program.
MassDevelopment has issued $9.4 million in bonds for Walker Park, a project from the Urban Edge Housing Corp., a community development organization in Roxbury.