Projects: Public Housing
86 Dummer Street, Brookline - Massachusetts
Nolan Sheehan Patten represented the Brookline Housing Authority in connection with the 86 Dummer Street project, in Brookline, Massachusetts. Conveniently located close to Commonwealth Avenue, Boston University and the MBTA Green line, the 32-unit affordable rental housing building was the largest new construction of its kind in Brookline in almost four decades. The 38,500 SF, energy-efficient, wood-frame building includes a landscaped green space, play structures and basketball court, energy-efficient windows, gas-fired heat and hot water and Energy Star appliances. The one, two and three-bedroom units are available to low-income families, senior citizens and people with disabilities. Nolan Sheehan Patten advised the Brookline Housing Authority in assembling a financing package of over $16 million, which consisted of construction/permanent financing from Bank of America, N.A. and Massachusetts Housing Partnership Fund Board, public financing from the City of Brookline, DHCD, AHT, CEDAC and FHLB, and an equity investment from Richman Capital.
Millers River Apartments – Cambridge, Massachusetts
Nolan Sheehan Patten represented Cambridge Housing Authority (CHA) in connection with the rehabilitation of Millers River Apartments, a 300-unit building for seniors located in East Cambridge. We assisted CHA in structuring the transaction as a leasehold condominium and assembling a financing package of over $177 million. The project included construction and permanent financing from MassHousing, funded with the proceeds of the issuance and sale of MassHousing Tax Exempt Bonds to Citibank, construction financing from Citibank, permanent financing from CHA and equity financing from Wells Fargo. Our representation also involved negotiating complex zoning issues with the City of Cambridge, enabling CHA to further its mission of maximizing access to affordable housing for those who need it. All 300 units of housing in this Project will be reserved for seniors with incomes at or below 60% of area median income.