63 Affordable Apartments for Boston Seniors

B’nai B’rith Housing of New England, Inc. is using a $21,816,800 tax-exempt bond issued by MassDevelopment to build a mixed-use building in Boston’s Hyde Park neighborhood that will feature 63 units of affordable senior rental housing and ground-floor retail. The new building will replace an existing underutilized commercial space containing an auto repair shop, and will be certified to LEED and Passive House standards as well as solar-ready. The building will include common areas and amenities for residents, including a community room, fitness center, library, central courtyard, and on-site parking. In addition to the tax-exempt bond, MassDevelopment assisted the Massachusetts Executive Office of Housing and Livable Communities with the approval of federal low-income housing tax credits that will provide approximately $16.1 million in equity for the project. Eastern Bank purchased the bond.