Talbot Commons Phase I – Dorchester, MA
Nolan Sheehan Patten represented Codman Square Neighborhood Development Corporation in connection with the rehabilitation of a 40-unit, scattered site, affordable housing project in Dorchester. In the course of our representation, we assisted in resolving complex zoning and permitting issues and assembling a diverse package of financing which included equity financing from Enterprise Community Partners, Inc., and debt financing from MassDevelopment, East Boston Savings Bank, and several sources of funding from the City of Boston and Commonwealth of Massachusetts including the Housing Stabilization and Investment Trust Fund, Affordable Housing Trust Fund, Commercial Area Transit Node Housing Program, City and State HOME Investment Partnerships Program, City of Boston Community Preservation Act program, and City of Boston Neighborhood Housing Trust. This project also received Massachusetts State Low Income Housing Tax Credits and will benefit from 9 project based vouchers through the Massachusetts Rental Voucher Program. All 40 units of housing in this project will be restricted for families in need of affordable housing with 31 units reserved for those at or below 60% of area median income and 9 units reserved for those at or below 30% of area median income.
Practice Area: Low-Income Housing Tax Credits, Development