Boston Financial: Community Spotlight: Powdermill Village
Arranging financing for affordable housing requires both time and creativity. Boston Financial provided both to Peabody Properties, helping it secure financing to renovate its Powdermill Village apartments in Westfield, Massachusetts. Boston Financial remained in the original 2000 partnership for five years after the tax compliance period expired before exiting in 2020. At the same time, it brought new LIHTC investors to the company and helped it assemble the many parties it needed to finance the renovation. As a result, Peabody and its nonprofit partner, Affordable Housing and Services Collaborative (AHSC) are now moving forward, upgrading Powdermill Village while preserving sorely needed affordable housing.
Select highlightsView all highlights
Off Plan Property Exchange: Affordable Housing Community in Lowell to Undergo Comprehensive Renovations