Fall 2017 Newsletter
Notable Fall Events
From September to November of each year, the CEDAC mailbox is full of invitations for groundbreaking ceremonies and ribbon cutting celebrations from our community development partners. This year was no different and CEDAC staff participated in over 15 events across the Commonwealth! While we are proud of the work that all of our partners have accomplished, we’d like to highlight just a few of these projects representing CEDAC’s key program areas: child care facilities, affordable housing preservation and production, and supportive housing.
Aspire Developmental Services: On October 25th, CEDAC’s affiliate, Children’s Investment Fund (the Fund), joined local and state officials for the ribbon cutting event for Aspire Developmental Services’ new early education center. With predevelopment and acquisition financing from the Fund and a 2016 Early Education and Out of School Time (EEOST) Capital grant, Aspire acquired and renovated the former O’Keefe Alternative School on Franklin Street in Lynn. The new space allows for expanded program space for Aspires’ early intervention services, parent training, and preschool and toddler classes. Theresa Jordan, Director of Children’s Facilities Finance for Children’s Investment Fund, is pictured below (far right) at the ribbon cutting event.
Congrats to Aspire Developmental Services on the completion of such an important #childcare project! Support from #EEOST @MassEarlyEdCare pic.twitter.com/pX7WKirkBN
— CEDAC (@CEDACma) October 25, 2017
Burbank Gardens, Fenway CDC: Fenway CDC celebrated the preservation of 52 affordable homes at Burbank Gardens on October 12th with residents, stakeholders, community partners, and elected officials – including Boston’s Mayor Marty Walsh. Burbank Gardens, located in the Fenway neighborhood, was one of the properties financed through MassHousing’s 13A program, whose 40-year mortgage terms reach maturity in March 2018 and risk losing its affordability. With funding from the City of Boston, MassHousing, DHCD, and CEDAC, Fenway CDC will rehabilitate the residence and maintain long-term affordability for low- and moderate-income residents. CEDAC provided both predevelopment and acquisition financing for this important preservation project.
The Lumber Yard Apartments, Valley CDC: Valley CDC broke ground on The Lumber Yard Apartments in Northampton on October 31st. As part of the city’s plan to transform Pleasant Street, The Lumber Yard Apartments will revitalize the former Northampton Lumber site and create 55 units of rental housing for low- and moderate-income families. Northampton Mayor David Narkewicz and Massachusetts’ Secretary of Housing and Community Development Jay Ash were in attendance to support the project, which has received financial support from the City of Northampton, the state’s MassWorks infrastructure program, DHCD, CEDAC, and others.
Lionel G. Romain representing CEDAC at @valleycdc_mass Lumber Yard Apts groundbreaking w/@JayAshEOHED @MayorNarkewicz & ED Joanne Campbell pic.twitter.com/0h4l9UbD6S
— CEDAC (@CEDACma) November 1, 2017
Walker Park Apartments, Urban Edge: Urban Edge’s Walker Park Apartments celebrated its groundbreaking on October 28th in Roxbury. The project will create 49 units of affordable rental housing on three vacant parcels in Egleston Square. Walker Park Apartments received acquisition and predevelopment financing from CEDAC, and CBH funding through DHCD. The City of Boston, MassDevelopment, MassHousing, MHIC, and MHP, are among other funding partners.
Waverly Abbey, Bridge Over Troubled Waters: On September 22nd, Bridge Over Troubled Waters (BOTW) celebrated the grand opening of Waverly Abbey, a new supportive housing residence in Brighton for unaccompanied homeless youth. Mayor Walsh spoke at the event. With a predevelopment loan from CEDAC and HIF funding from the state, BOTW was able to renovate and expand the residence to serve up to 50 homeless youth. The residence consists of the Single Parent House, a transitional living program for pregnant and parenting women and their children, and the Transitional Living Program, BOTW’s long-term transitional program for young men and women.