BOSTON YOUTH HOSTEL

BOSTON, MASSACHUSETTS

Nolan Sheehan Patten represented two of the three community development entities (CDEs) in this $36 million financing which combined the New Markets Tax Credit and Historic Tax Credit programs. We advised both Massachusetts Housing Investment Corporation (MHIC) and Massachusetts Development Finance Agency (MassDevelopment) in structuring and closing qualified low-income community investments of approximately $23.5 million. The proceeds will be used to finance the Dill Building—a historic building at the intersection of Boston’s midtown cultural district, theatre district and Chinatown—into the first LEED certified youth hostel in the United States. Additionally, the Project is expected to generate more than $16 million of annual revenue for Boston-area businesses.

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84 State Street, Suite 940

Boston MA 02109
Phone: 617 451 1725
Fax: 617 917 4774

For general inquiries, please fill in the form on your right or contact: Paula Burns

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