Retirement home and health clinic

New Markets Tax Credit Coalition

Jamaica Plain,
MA
(2010)

Mt. Pleasant Home

Community, Healthcare

NMTC financing for a Retirement home and health clinic

Investment

NMTC Amount: $19,561,379
Total Project Cost: $20,324,078

IMPACT

57 FTE jobs
100 construction jobs

CDEs

Capital Impact Partners, Low Income Investment Fund

Investor

US Bank

Project Description

Mt. Pleasant Home is an elder residence that serves very low-income seniors in Jamaica Plain, Massachusetts. LIIF provided a New Markets Tax Credit allocation as part of a $20.3 million transaction to support the rehabilitation and expansion of the Mt. Pleasant Home facility. The project will increase the residential units available and build commercial space and a new three-story atrium. The Brigham and Women’s Hospital will open and operate a new primary care facility in the expanded space. In addition, the project is incorporating many green building elements with a goal of achieving a LEED Silver certification. The development also received support from the State of Massachusetts Department of Housing and Community Development and the City of Boston Department of Neighborhood Development.

MAP

Address: 301 South HUNTINGTON Avenue, Jamaica Plain, MA 2130

Census Tract: 25025081100

Other Massachusetts Projects

Vicente’s Tropical Grocery

Brockton,
MA
(2014)

Affordable Housing, Community, FQHCs, Grocery and Fresh Food, Healthcare, Historic Rehabilitation, Housing, Mixed-use

CDE(s): Chase, MHIC

Due to the lack of further expansion options at the existing store, Vicente's opened a second 33,416 sq. ft. store in downtown Brockton at 160 Pleasant Street in a very

ZUMIX

Boston,
MA
(2008)

Community

CDE(s): MHIC, Nuestra Comunidad Development Corporation

Transformation of the long-vacant Engine Company 40 Firehouse in East Boston into a vibrant youth arts center - a new home for ZUMIX.

Caring Health Center – Richard E. Neal Complex

Springfield,
MA
(2012)

Community, Dental Services, FQHCs, Healthcare, Historic Rehabilitation

CDE(s): Building America CDE, MHIC

The Caring Health Center project was the rehabilitation and adaptive reuse of three contiguous buildings in the Smith Carriage Company Historic District of Springfield, which improves healthcare in a medically

Brockton Neighborhood Health Center

Brockton,
MA
(2014)

Affordable Housing, Community, FQHCs, Healthcare, Housing, Mixed-use, Retail, Retail and Commercial, Transit Oriented Development

CDE(s): Bank of America, MassDevelopment, MHIC

The NMTC allocation financed Trinity’s rehabilitation of the historic Brockton Enterprise building, transforming the space into a 51,000-sq. ft. commercial building with retail space on the first floor.