MHIC Coffin Lofts and Lawtons Corner Projects

New Markets Tax Credit Coalition

New Bedford,
MA
(2004)

MHIC Coffin Lofts and Lawtons Corner Projects

Mixed-use

The historic renovation and adaptive reuse of six vacant buildings

Investment

NMTC Amount: $5,077,288
Total Project Cost: $6,950,001

IMPACT

6 FTE jobs
25 construction jobs
26,601 sq. ft. of real estate

CDEs

MHIC

Project Description

MHIC Coffin Lofts and Lawtons Corner Projects MA: Coffin Lofts, along with its companion project, Lawton’s Corner, was among the first projects MHIC financed using New Markets Tax Credits and among the first NMTC projects in the country to get under way. In downtown New Bedford, six distressed historic buildings (Coffin Lofts and Lawton’s Corner) were transformed into retail/office and commercial space and mixed-income housing. The sponsors teamed up to transform this neighborhood, but would not have been able to complete The project without New Markets Tax Credit financing.

MAP

Address: 196 Union Street, New Bedford, MA 2740

Census Tract: 25005651800

Other Massachusetts Projects

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