MassDevelopment Provides $21.8 Million in Bond Financing for Affordable Housing Project in Boston

by Channing Hamilton

BOSTON — MassDevelopment has provided $21.8 million in tax-exempt bond financing for a 63-unit affordable housing project current underway in Boston’s Hyde Park neighborhood. The borrower and developer is an affiliate of B’nai B’rith Housing. Eastern Bank purchased the bond. The Massachusetts Executive Office of Housing & Livable Communities provided $16.1 million in tax credit equity for the project. The development will offer one-bedroom apartments for households earning 30, 50 or 60 percent or less of the area median income.

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