Burbank Gardens – Boston, Massachusetts
Nolan Sheehan Patten represented the investor, Massachusetts Housing Equity Fund XXIII in connection with the renovation of a 52 unit building in the Fenway Park area of Boston. Fenway CDC acquired $14.3M of MassHousing financing for the renovation and preservation of the affordable housing units. 28 of the 52 units were originally financed under the state’s Section 13A housing affordability program and the Burbank Gardens refinancing transaction resolves the expiring Section 13A rental subsidy. Located next to Symphony Community Park, Burbank Gardens has a community space and will provide much needed affordable housing in the area.
Practice Areas: Low-Income Housing Tax Credits