New Markets Tax Credit Coalition

2201 Washington Street

The Massachusetts Department of Transitional Assistance - a state agency that provides transitional assistance to low-income families - now occupies three floors of a NMTC financed facility.

Investment

  • NMTC Amount: $6,587,825
  • Total Project Cost: $7,705,771

IMPACT

  • 40 FTE jobs
  • 28 construction jobs

CDEs

Investor

Project Description

The Massachusetts Department of Transitional Assistance — a state agency that provides transitional assistance to low-income families — now occupies three floors (80% of the previously vacant space). MHIC’s New Markets Tax Credit financing made it possible for Madison Park Development Corporation to substantially upgrade a 3-story commercial property in the heart of Roxbury’s Dudley Square, where MHIC has financed several other projects. The Massachusetts Department of Transitional Assistance — a state agency that provides transitional assistance to low-income families — now occupies three floors (80% of the previously vacant space). The redevelopment of this building ensures the retention of major tenants, including three city agencies that provide economic development assistance to area businesses. The building houses approximately 222 full-time employees, an increase of at least 40 full-time jobs over the previous occupancy.

MAP

Address: 2201 Washington Street, Roxbury, MA 2119

Census Tract: 25025080401

Other Massachusetts Projects

NMTC financing for Community Action, Inc, a nonprofit that provides resources and opportunities for individuals, families and communities to overcome poverty.
NMTC financing closed the feasibility gap to make possible the revitalization of the historic Old Lynn School and provide a new home and state-of-the-art facility for Girls Incorporated of Lynn.
The new construction of a six-story, 78,900 sq. ft. community health facility for the Whittier Street Health Center Committee, Inc.

The A.D. Makepeace Company, based in Wareham, is the world’s largest cranberry grower, the largest private property owner in eastern Massachusetts, and a recognized leader in environmentally responsible real estate