Boston, MA. Nixon Peabody client Hebrew SeniorLife, the nonprofit senior living and health care organization affiliated with Harvard Medical School, has closed financing that will enable the construction of new affordable housing for seniors in two metro Boston locations.
Financing will support the construction of the first affordable senior housing community in Boston’s Upham’s Corner neighborhood. This $25 million project on Leyland Street is a joint venture with nonprofit Dorchester Bay Economic Development Corporation (DBEDC). Financing for this 43-unit senior housing development is being provided by the Massachusetts Department of Housing and Community Development (DHCD), the City of Boston’s Mayor’s Office of Housing (MOH), City of Boston’s Neighborhood Housing Trust (NHT), Massachusetts Housing Investment Corporation (MHIC), Eastern Bank, Rockland Trust, and Massachusetts Housing Partnership.
“We have a special responsibility to make sure that seniors have access to care and resources that support their independence and desire to remain vital members of their communities,” said Lou Woolf, president and CEO, Hebrew SeniorLife. “We look forward to continuing our work with DBEDC and becoming actively involved in Upham’s Corner.”
Separately, Hebrew SeniorLife will build 45 units of additional affordable housing at the Simon C. Fireman Community in Randolph, Massachusetts, bringing the total affordable senior apartments with supportive services there to 160.
The new three-story wing will be fully integrated with Fireman’s existing residences, sharing the same lobby and creating two courtyards with walking paths, exercise stations, and benches. Other amenities include a multi-purpose room, a fitness center, office space, an art/game room, a deck overlooking the courtyard, a library, and a lounge. The expansion will be built to high sustainability and energy-efficient passive house standards.
Financing for this $22 million project includes a low-income housing tax credit investment from MHIC and support from the Commonwealth of Massachusetts, the Town of Randolph, and the Massachusetts Housing Partnership. The resulting apartments will be 100% affordable, with 27 units for households earning up to 60% of area median income (AMI), four for households earning up to 50% AMI, and 14 units for households at or below 30% AMI.
“Hebrew SeniorLife is passionate about its mission to expand affordable housing access, and we are always proud to help them create positive impact in the community,” said Jeffrey Sacks, a partner in Nixon Peabody’s Affordable Housing and Real Estate group, who led the deal team for both transactions.
In addition to Jeff Sacks, the Nixon Peabody team on both deals included Forrest Milder, Donald Cooper, Karla Chaffee, Ali Sisson, and Vienna Kim.
