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Massachusetts

Affordable HousingDevelopmentFinanceMassachusettsNews

MassDevelopment Provides $22.2M Bond Financing for Affordable Community in Foxborough, Massachusetts

by Jeff Shaw

FOXBOROUGH, Mass. — MassDevelopment has issued a $22.2 million tax-exempt bond on behalf of Walnut Street Phase One 4 LLC to build 80 units of affordable seniors housing at 51 Walnut Street in the Boston suburb of Foxborough. The developer is a joint venture that includes Affordable Housing and Services Collaborative Inc., Peabody Properties Inc. and The Onyx Group. The site, previously owned by the Commonwealth of Massachusetts, was turned over to the Foxborough Housing Authority in 2017.  These units represent the first step in a multi-phase project that will …

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Affordable HousingDevelopmentMassachusettsNews

Joint Venture Completes Conversion of Former Middle School to LGBTQ-Focused Affordable Community in Boston

by Jeff Shaw

BOSTON — LGBTQ Senior Housing Inc., Pennrose, the City of Boston and other project partners have opened The Pryde, an LGBTQ-affirming affordable housing community for seniors in Boston’s Hyde Park neighborhood. The project transformed the historic Rogers Middle School site into a vibrant community of 74 mixed-income rental homes. The Pryde includes studio, one- and two-bedroom modern apartments available to households earning less than 30 percent to less than 100 percent of the area median income (AMI), or approximately $36,690 to $103,900 for a one-person household. Several apartments will be …

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DevelopmentMassachusettsNews

LCB Completes Renovations at Residence at Paine Estate in Wayland, Massachusetts

by Jeff Shaw

WAYLAND, Mass. — LCB Senior Living has completed a renovation project at the Residence at Paine Estate in Wayland, approximately 15 miles west of Boston. The property, which sits alongside the Sudbury River, was purchased in the early 1900s by Edwin Farnham Greene, who built a brick mansion and installed gardens overlooking the river. In 1926, he sold the site to Frank and Virginia Paine and it became known as Paine Estate.  Frank Paine was the son of a Civil War general who earned his fortune by investing in the …

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Active AdultDevelopmentMassachusettsNews

United Group Breaks Ground on 123-Unit The Arbella at Bramble Hill in Worcester, Massachusetts

by Jeff Shaw

WORCESTER, Mass. — The United Group of Companies has broken ground on The Arbella at Bramble Hill, a 123-unit active adult community in Worcester. “The housing is needed,” says Worcester Mayor Josephy Petty. “It’s one of the big priorities of the state. And all types of housing are needed.” The Arbella at Bramble Hill, which will span 17 acres, will be one of the city’s only active adult communities upon completion. The community will feature one- and two-bedroom apartment units spread across three elevator-serviced buildings. There will also be an …

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DevelopmentFeaturesMassachusettsNewsTechnology

Communication, Cooperation Are Keys to Successful Occupied Renovation Projects

by Jeff Shaw

There are many ways to renovate an existing seniors housing property, but one of the most complicated may be expanding and renovating a community while it’s still occupied. That was the challenge faced by Volunteers of America (VoA) Massachusetts when it wanted to add a third floor to its Concord Park Senior Living community in Concord, Massachusetts, while also renovating all existing units and common areas and completely replacing the heating and cooling system. Representatives from VoA were joined by several project partners on June 4 for a webinar titled …

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Affordable HousingDevelopmentFinanceMassachusettsNews

MassDevelopment Issues $21.8M Bond Financing for Affordable Project in Boston

by Jeff Shaw

BOSTON — MassDevelopment has issued a $21.8 million tax-exempt bond for the construction of a mixed-use building in Boston’s Hyde Park neighborhood that will feature 63 units of affordable seniors housing and ground-floor retail. The borrower is CCC River LLC, an affiliate of B’nai B’rith Housing of New England Inc.  The new building will replace an underutilized commercial space containing an auto repair shop, and will be built to LEED and Passive House standards.  The 63 one-bedroom units will be rented to households earning up to 30 percent, 50 percent …

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ConnecticutMassachusettsNewsOperationsPeople

LCB Appoints Two New Executive Directors in New England

by Jeff Shaw

SWAMPSCOTT, Mass., and WESTPORT, Conn. — LCB Senior Living has named Andrew Gillis as executive director of The Residence at Vinnin Square, an independent living, assisted living and memory care community in Swampscott, approximately 14 miles northeast of Boston. Gillis brings 30 years of healthcare experience, specifically in skilled nursing, assisted living and hospice, to The Residence at Vinnin Square. He is also licensed both as a nursing home administrator and a clinical social worker.  Previously, Gillis served as the president and chief operating officer for Bluepoint Healthcare. Additionally, his …

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AcquisitionsCCRCMassachusettsNews

ESI Arranges Sale of Shrewsbury Campus CCRC in Massachusetts

by Jeff Shaw

SHREWSBURY, Mass. — Evans Senior Investments (ESI) has arranged the sale of the Shrewsbury Campus, a continuing care retirement community (CCRC) in Shrewsbury, a suburb of Worcester.  Shrewsbury Campus was built in phases between 1969 and 1986. The community comprises Southgate at Shrewsbury for private-pay senior living, Shrewsbury Nursing & Rehabilitation for skilled nursing and a group of medical office buildings named Shrewsbury Medical Center. Southgate at Shrewsbury and Shrewsbury Nursing & Rehabilitation offer a combined total of 171 independent living units, 60 assisted living units and 99 skilled nursing …

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Affordable HousingDevelopmentFinanceMassachusettsNews

Nixon Peabody Negotiates Green Retrofit Financing for Bauer House in Quincy, Massachusetts

by Jeff Shaw

QUINCY, Mass. — Nixon Peabody LLP has negotiated a Green & Resilient Retrofit Program (GRRP) transaction for Bauer House, a seniors housing community in the Boston suburb of Quincy. Wollaston Lutheran Church owns the property. The transaction also involved a Rental Assistance Demonstration (RAD) conversion and FHA-insured Section 223(f) loan originated by Hampden Park Capital and made by Lument Real Estate Capital. Bauer House, a subsidized residence for independent seniors, will use the GRRP funds and FHA-insured loan proceeds to finance a new energy-efficient HVAC system and to make accessibility …

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