Concord Highlands - Cambridge, Massachusetts
Nolan Sheehan Patten represented Homeowner’s Rehab., Inc., in the acquisition and financing of Concord Highlands, a new, 98-unit affordable housing project in Cambridge. We assisted HRI in acquiring the property, utilizing a ground lease structure and assembling a financing package which included construction financing from TD Bank, N.A.; permanent financing from MassHousing, the Massachusetts Housing Stabilization Fund, the Massachusetts Affordable Housing Trust Fund, the City of Cambridge and the Cambridge Affordable Housing Trust; and equity financing from the Massachusetts Housing Investment Corporation and the sale of Massachusetts State Low Income Housing Tax Credits. Our representation also involved assisting in matters arising from permitting the project under the 40B Comprehensive Permit program. 100% of the units in this Project will be reserved for families in need of affordable housing.
Practice Areas: Low-Income Housing Tax Credits, Public Financing