Paul E. Bouton

Paul Bouton is a partner in Nixon Peabody’s Affordable Housing group. He represents affordable housing developers in the development and preservation of affordable housing, primarily in Massachusetts.

What do you focus on?

I focus my practice on all aspects of affordable housing finance and development. I have represented owners and developers in the production and preservation of tens of thousands of affordable housing apartment units.

As part of my work in affordable housing finance, I have gained significant experience in structuring and documenting partnership arrangements between developers, owners, investors and others involved in affordable housing development.

I have developed legislative experience as well, as I helped write and implement two Massachusetts state laws relating to affordable housing preservation and development, specifically the Massachusetts state low-income housing tax credit program and the Massachusetts affordable housing preservation law (40T).

What do you see on the horizon?

The scarcity of resources to develop and preserve affordable housing will continue to be an issue. In order to compete for these resources, clients must put together an excellent project team and demonstrate that the proposed projects are well conceived and ready to proceed.

Representative Experience

  • Several owners/developers in the acquisition, financing and rehabilitation of a number of existing multifamily affordable housing developments.
  • The owner in the acquisition and financing of a historic building and conversion into affordable housing. The financing included federal and state low-income housing and historic tax credits.
  • An owner in the acquisition and financing of a scattered site affordable housing development in Boston, acquired in a Bankruptcy Court Section 363 sale.
  • The owner in the refinancing of a 508-unit luxury apartment complex in Boston.
  • An owner in the recapitalization of a 967-unit affordable apartment complex in Hyde Park, Massachusetts.
  • A developer in the financing of a 100-unit 40R development in Lakeville, Massachusetts.
  • A purchaser in the acquisition and development of property in Danvers and Peabody, Massachusetts, which was the subject of significant environmental contamination.
  • A joint venture between Edward Fish and Arthur Winn in connection with the redevelopment of Mission Main, a public housing development in Boston, Massachusetts.

Former schoolhouse evolves into affordable housing in Greater Boston

Connect Media | October 19, 2021

This article covers the groundbreaking for a Boston-area affordable housing project, mentioning our firm for advising the developers on the predevelopment, acquisition, permitting, and construction financing. The NP team included Affordable Housing & Real Estate partner Paul Bouton, late partner Ruth Silman, senior associate Julie Hancock Stande, and associate Ali Walendziak, all of the Boston office.


Paul E. Bouton



Phone: 617-345-1240

Fax: 866-947-1841

Boston College Law School, J.D.

University of Connecticut, M.B.A.

University of Massachusetts, B.B.A.


Paul was selected, through a peer-review survey, for inclusion in The Best Lawyers in America© 2022 in the field of Real Estate Law. Paul has been listed in Best Lawyers since 2014.

Paul was also recognized for exceptional standing in the legal community in Chambers USA: America’s Leading Lawyers for Business 2021 for Real Estate (Massachusetts). He has also been recognized in Chambers in previous years.

Paul has been recognized as a “Massachusetts Super Lawyer” in Real Estate based on a peer-review survey by Thomson Reuters (2005–2017).

Paul is a member of the American and Boston bar associations. He served three terms as elected town moderator in his community. He also served as chair of his community’s Finance Committee and as vice-chair of the Housing Partnership Committee.

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