Projects: Public Lender
General Heath Square Apartments — Jamaica Plain, Massachusetts
Nolan Sheehan Patten represented various public agencies that financed the construction of a multi-family residential building on a previously vacant lot in Boston’s Jamaica Plain neighborhood. Conveniently located near the Jackson Square Orange Line station, the project will consist of 47 housing units, all of which will be affordable to individuals and families with incomes below the local average. The construction of the project will generate jobs for local residents and the project’s developer has committed to engage Minority Owned Businesses. The development team expects General Heath Square Apartments to be completed by the fall of 2019.
Chapman Arms – Cambridge, Massachusetts
Our attorneys represented Homeowner’s Rehab, Inc., a Cambridge-based non-profit housing developer, in the acquisition and financing of Chapman Arms, a 50-unit building with 10,000 square feet of commercial space located in Harvard Square ground-leased from Harvard University. Homeowner’s Rehab, Inc. was designated as developer by DHCD under M.G.L. c. 40T in order to preserve the affordability of 25 of the units for the long term. This was DHCD’s first developer designation under Chapter 40T. Acquisition of the project was financed by Community Economic Development Assistance Corporation and rehabilitation of the project was financed with a loan from Bank of New York Mellon, the purchaser of Tax Exempt Bonds issued by MassDevelopment, loans from the Massachusetts Department of Housing and Community Development, the City of Cambridge, Cambridge Neighborhood Apartment Services, Inc., and the Massachusetts Affordable Housing Trust Fund. Financial assistance also included an equity investment by Massachusetts Housing Equity Fund and the sale of Massachusetts State Historic Tax Credits.
98 Essex Street – Haverhill, Massachusetts
Nolan Sheehan Patten represented Massachusetts Housing Equity Fund in connection with the renovation of 62 units of housing at 98 Essex Street in Haverhill. The project will entail the adaptive reuse and historic renovation of the former Shoe and Leather Associates building. When complete, a majority of the 62 prospective units will be either one or two-bedroom apartments, with seven of the apartments reserved for low income households. The redevelopment will offer a versatile array of housing near public transit. Total cost of the project is estimated to be $25 million with $16.8 million in the form of state cash as well as state and federal tax credits.
Glen Street Condominiums – Somerville, Massachusetts
Nolan Sheehan Patten represented the City of Somerville in connection with an approximately $3,000,000 loan to Somerville Community Corporation. The financing will be used to build 11 homeownership condominium units, 8 of which will be restricted as affordable units. The project will target both low and middle-income households and provide much needed affordable homeownership housing stock in the City of Somerville.
Knitting Mill – Fall River, Massachusetts
Nolan Sheehan Patten represented the City of Fall River, Department of Housing and Community Development and Massachusetts Affordable Housing Trust Fund in the financing, acquisition and redevelopment of a former mill building in Fall River, Massachusetts. This historic rehabilitation of a 149,000+ square foot mill will provide the City of Fall River with 100 affordable housing units, 25 of which will be reserved for seniors earning less than 30% of the area median income.
Stratton Hill Apartments – Worcester, Massachusetts
Stratton Hill Apartments is a rehabilitation of 156 affordable rental units in Worcester, Massachusetts. Nolan Sheehan Patten served as MassDocs counsel for public financing sources that included a combined $4.75 Million in NFIT, AHT, CIPF, and HSF loans from the Department of Housing and Community Development and a $550,000 HOME loan from the City of Worcester.
Torrey Woods Apartments – Weymouth, MA
In late October 2011, the Town of Weymouth celebrated the opening of Torrey Woods, a 20-unit affordable housing project. Nolan Sheehan Patten represented the Department of Housing and Community Development in delivering to this project key federal stimulus funding from the Tax Credit Exchange Program. We also advised the Massachusetts Housing Partnership Fund Board (MHP) in providing the project sponsor with a loan through the Home Funders program. Our representation included reviewing the Ch. 40B comprehensive permit process, energy efficiency retrofits, and related permitting complexities.
A.O. Flats – Boston, Massachusetts
A.O. Flats is the construction of 78 new units of affordable rental housing in one building in Boston, Massachusetts. Nolan Sheehan Patten served as MassDocs counsel for the City of Boston in making a combined $3 Million in loans through the City of Boston HOME, IDP, and NHT programs.
Sachem’s Path – Nantucket, Massachusetts
Nolan Sheehan Patten represented the Massachusetts Department of Housing and Community Development and the Massachusetts Affordable Housing Trust Fund on an affordable homeownership development known as Sachem’s Path on Nantucket, MA developed by Housing Assistance Corporation of Cape Cod. The project involved both an Affordable Housing Trust Fund loan and a Housing Stabilization Fund loan. The project is a 40-unit subdivision permitted under the Massachusetts Comprehensive Permit Law, M.G.L. c.40B, with units affordable to households earning 80%, 100% and 150% of area median income. The State funding sources are assisting the units available to households at 80% and 100% of median income.
25 Amory Street Apartments - Boston, MA
Nolan Sheehan Patten represented various public agencies that financed the construction of 44 units of affordable housing in Boston’s Jamaica Plain neighborhood. The development of 25 Amory Street is part of a long-term revitalization plan near Jackson Square which continues to transform vacant, underutilized land into affordable and transit-oriented housing. As part of the 25 Amory Street transaction, Nolan Sheehan Patten also advised the Community Economic Development Assistance Corporation in relation to their loan to provide financing to non-profit developer The Community Builders, Inc. (“TCB”) for the acquisition of the adjacent, vacant lot located at 250 Centre Street where TCB plans to construct additional affordable housing.