Boston, MA. Nixon Peabody LLP is proud to have advised Hebrew SeniorLife in the site acquisition and construction of a new seniors affordable housing complex in Brookline, Massachusetts, adjacent to Downtown Boston.
The project involves the construction of a new seven-story complex, consisting of 54 units for seniors over the age of 62, located on Centre Street as part of Hebrew SeniorLife’s Center Communities of Brookline. Combined with the Marilyn and André Danesh Family Residences, the Julian and Carol Feinberg Cohen Residences, and the Diane and Mark Goldman Family Residences, this new complex will expand the vibrant Hebrew SeniorLife seniors housing campus in Brookline.
Financing for the project is supported by Eastern Bank, the Massachusetts Development Finance Agency (as bond issuer), the Massachusetts Housing Partnership Fund Board, the Commonwealth of Massachusetts Department of Housing and Community Development, the Town of Brookline, and Rogerson Communities, Inc., with an equity investment by RBC Community Investments, LLC. Hebrew SeniorLife is working in conjunction with Affirmative Investments on the development of the project.
“Hebrew SeniorLife continues to be a vital resource in the Greater Boston area in a time of tremendous need for affordable seniors housing,” said Julie Hancock Stande, a partner in Nixon Peabody’s Affordable Housing & Real Estate practice and lead attorney for Hebrew SeniorLife. “This financing transaction had some unique last-minute hurdles. We are thrilled to have helped Hebrew SeniorLife navigate those challenges and move this impactful project forward.”
“We are pleased to work with Nixon Peabody in order to help meet the need for seniors housing in the Brookline area,” said Rachel Lerner, General Counsel and Chief Compliance Officer at Hebrew SeniorLife. “This effort allows us to expand our seniors housing with onsite support services that promote wellness and independence.”
This project highlights Nixon Peabody’s continued commitment to helping Hebrew SeniorLife create positive impact for seniors across the region. Last March, the firm advised Hebrew SeniorLife on the complex financing for the construction of two affordable housing developments for seniors in Boston’s Upham’s Corner neighborhood and in Randolph, Massachusetts.
Hebrew SeniorLife, an affiliate of Harvard Medical School, was founded in 1903 and today is a national leader dedicated to empowering seniors to live their best lives. Hebrew SeniorLife cares for more than 3,000 seniors a day across six campuses throughout Greater Boston.