Nonprofit Finds New Home in Lowell

December 10, 2025

Kiara Ford, 978-844-1380
kford@massdevelopment.com

LOWELL, Mass. – MassDevelopment has issued a $2,030,000 tax-exempt bond on behalf of the International Institute of New England, Inc. (IINE), a nonprofit that for more than a century has created opportunities for refugees and immigrants to succeed through housing and food support, education, employment support, and legal services. IINE will use bond proceeds to buy, renovate, and equip a new 21,000-square-foot facility located at 585 Middlesex St. in Lowell, where the organization will relocate operations from its previous locations within Lowell. The site will serve as a permanent home for IINE, providing long-term operational stability for the organization and enhancing its ability to deliver life-changing services to community members. The tax-exempt bond, purchased by Eastern Bank, helped the borrower achieve a lower cost of capital.

“Massachusetts is fortunate to be home to a large network of nonprofits that advance our communities and strengthen our economy,” said Economic Development Secretary Eric Paley, who serves as chair of MassDevelopment’s Board of Directors. “We are glad to see MassDevelopment’s tax-exempt bond program help these nonprofits invest in new or larger facilities where they can carry out their mission and create impact for clients.”

“For more than a century, the International Institute of New England has been working to empower and meet the needs of immigrants and refugees in the Merrimack Valley,” said MassDevelopment President and CEO Navjeet Bal. “MassDevelopment is pleased to partner with Eastern Bank to provide tax-exempt financing as the organization builds a state-of-the-art facility where it can serve the community for many more years to come.”

"The City of Lowell is proud to welcome the International Institute of New England to its new permanent home on Middlesex Street," said Lowell Mayor Daniel P. Rourke. "Lowell has always been a city of opportunity, built by people who came here seeking a better life. IINE's work continues that legacy - helping newcomers build lives, careers, and futures here in our community."

"This project exemplifies how strong partnerships between the public, private, and nonprofit sectors can create lasting community impact," said Lowell City Manager Thomas A. Golden, Jr. "By securing a permanent home in Lowell, IINE will continue delivering essential services to new residents and reinforce Lowell's longstanding commitment to being a welcoming city for all."

“We thank MassDevelopment for advancing new opportunities in Lowell and are proud to offer our construction lending expertise to help achieve a lower cost of capital for the International Institute of New England’s new home,” said Johanna Stone, a Vice President of Community Development Lending at Eastern Bank.

“Since IINE first opened its doors in Lowell in 1918, our organization—and the thousands of refugees and immigrants who have come through our doors—have been integral to the city’s economic and cultural fabric,” said Jeff Thielman, President and CEO of the International Institute of New England. “We are thrilled to now be putting down permanent roots, with the generous support of MassDevelopment. Together, we are creating a new home where all community members will find belonging and opportunity.”

With locations in Boston, Lowell, and Manchester, N.H., the International Institute of New England serves thousands of individuals annually, including people displaced by persecution, political instability, violence, and climate crises, child and adult survivors of human trafficking, and unaccompanied children joining family members in New England. IINE offers a comprehensive range of programs and services to help these newcomers feel welcome, achieve stability and security, access resources, advance their education and employment goals, and integrate into their communities. IINE’s expertise builds on more than a century of service, and with continued partnership from community groups and concerned philanthropists throughout New England, IINE seeks to continue this service for the next 100 years and beyond.  

MassDevelopment, the state’s development finance agency and land bank, delivers financing solutions, real estate expertise, and other assistance to strengthen and grow the Massachusetts economy. We partner with businesses, nonprofits, developers, banks, and municipalities, providing resources to help create jobs, build housing, and foster vibrant communities across the state. During FY2025, MassDevelopment financed or managed 409 projects generating investment of more than $4.65 billion in the Massachusetts economy. These projects are estimated to create or support 25,246 jobs and build or preserve 2,867 housing units.