Eustis Street Firehouse – Roxbury, Massachusetts
The oldest firehouse in Boston, the Eustis Street Firehouse was abandoned in the 1950s and fell into serious disrepair, requiring wooden braces and threatening collapse prior to construction. Given its history, however, the building remained important to the City’s character. Historic Boston, Inc. (HBI), a local nonprofit focused on rescuing, preserving, and rehabilitating historic Boston properties, decided to save the structure for its own headquarters. Nolan Sheehan Patten represented both the CDE and Investor in creating a twinned NMTC and state/federal HTC master tenant structure that delivered a $2.1 million financing package to HBI by leveraging a loan from the City of Boston, capital campaign funds, and equity investments. HBI moved into the renovated building in the fall of 2011. The move has spurred additional development and revitalization throughout the Dudley Square community.
Practice Area: Historic Rehabilitation Tax Credits, New Markets Tax Credits