Mental Health Association secures $6.5 million in financing for new Chicopee headquarters

Mental Health Association, Inc. (MHA) is using a $6.5 million tax-exempt bond from MassDevelopment to buy and renovate an approximately 78,378-square-foot building at 350 Memorial Drive in Chicopee, where it is relocating its headquarters from Springfield, Mass. and housing its mental health programs and residential and support services. The move is allowing MHA to keep pace with growth and locate its staff in one office. The organization expects to create 45 full-time jobs and 20 part-time jobs over the next three years. Florence Bank purchased the tax-exempt bond, which helped MHA achieve a lower cost of capital.