Announcing CEDAC’s 2022 Annual Report

CEDAC is thrilled to share our FY22 Annual Report, detailing recent projects and initiatives completed alongside our nonprofit community development partners in our ongoing efforts to create greater access to high quality affordable housing and child care across Massachusetts.

In 2022, with the world beginning to once again look to the future after weathering the global pandemic, CEDAC quickly determined that our work in creating more housing opportunities for those in need was more acutely in demand than ever before. Equipped with this knowledge and empowered by a team that is passionate about their work, CEDAC was able to meet this challenge.

In 2021, responding to calls for a reexamination of how our society confronts racial injustice and inequality, CEDAC committed to improving its efforts in this area. This year, CEDAC worked closely with state partners to lead the implementation of new criteria in funding applications aimed at increasing the use of Minority Business Enterprises (MBEs) in affordable housing projects.

CEDAC would like to thank our public and private partners for your continued support and advocacy. Without you, this important work would not be possible. We hope that you will enjoy learning about our activities over the past year and look forward to working with you all for years to come as we pursue our shared goal to build strong communities across the Commonwealth.

CEDAC Announces New Partners in Western Massachusetts to Expand Access to the Home Modification Loan Program

BOSTON (January 13, 2023) – In INSITES this week, CEDAC announced today that the Commonwealth of Massachusetts’ Home Modification Loan Program (HMLP) has reconfigured its “Western Massachusetts” area into four sub-regions in an effort to better reach and serve homeowners in these communities. HMLP is a state-funded loan program that provides no-interest loans to those in need of accessibility improvements to their homes. The Western Massachusetts regional HMLP Provider Agencies are:

Greater Springfield – Way Finders, Inc. will continue to serve residents in the greater Springfield area.
Hampden & Hampshire Counties – Valley Community Development will now serve residents in all communities in Hampden and Hampshire Counties not served by Way Finders.
Franklin County – Franklin County Regional Housing & Redevelopment Authority will now serve residents in all communities in Franklin County.
Berkshire County – Berkshire Regional Planning Commission will now serve residents in all communities in Berkshire County.

CEDAC Announces Q1 FY23 Lending Results with Exciting New Projects

BOSTON (November 17, 2022) – In INSITES this week, we are excited to share CEDAC’s lending results for the first quarter of Fiscal Year 2023 (July 1 – September 30, 2022). Our early-stage project lending will help to preserve or create over 900 units of affordable housing in 12 communities across Massachusetts. From Boston to Springfield, CEDAC works with community partners and state officials to ensure that the opportunities for accessible, affordable housing continue to proliferate at a time of acute need. With record high housing costs and ongoing challenges around homelessness facing us all, the projects we have assisted represent important milestones in our continued mission to create long-term housing options for those who need them most.

Of particular note, we are especially proud of our collaboration with Valley Community Development on the latest motel conversion project in Hadley. Building on the success of the recently completed Rodeway Inn conversion project, which saw the creation of 69 units of permanent supportive housing for individuals experiencing homelessness, CEDAC continues to seek new properties and partners for these conversions.

We hope you will enjoy reading about this latest round of projects.

Featured image: A rendering of Asian CDC’s Parcel R-1 project in Chinatown
Stantec Architects

About CEDAC

New CDC Leaders: Listening Deeply with Keith Fairey, President and CEO of Way Finders

Keith Fairey, President and CEO of Way Finders

BOSTON (October 25, 2022) – The past decades have seen the steady rise and proliferation of Community Development Corporations (CDCs), organizations created with the goal of revitalizing neighborhoods that had fallen victim to economic hardship. Areas that had fallen into disarray following years of neglect were offered new opportunities to provide affordable housing for those in need as the cost of living continued to increase and reinvigorate their communities which had in many ways become disconnected.

In recent years, a new wave of CDC leaders has begun to take the reins from their predecessors, carrying on the torch of commitment to preserving and strengthening neighborhoods across the Commonwealth to secure a brighter future for residents of all backgrounds. One such leader is Keith Fairey, who recently took on the role of President and CEO of Way Finders, a Springfield based CDC working to strengthen housing stability and economic mobility, and build thriving neighborhoods in communities throughout Western Massachusetts.

CEDAC recently spoke with Keith Fairey to learn more about his background, his vision for Way Finders, and his passion for the work his organization engages in.

Humble Beginnings

When asked about his motivations for working in affordable housing, Keith spoke about his youth in New York during the 1970s and 80s, having many family members living in the Bronx, and himself growing up in naturally occurring affordable housing just north of the Bronx. During this time, he saw how many New York City neighborhoods were under siege and seemingly on the verge of collapse, but gained inspiration from the community leaders and stakeholders that were able to come together to protect their neighborhoods and bring about positive change. Where many saw the “Bronx burning,” Keith saw a struggle taking place wherein communities were pulling together to protect what little they had. From these experiences, he came to understand that one day he’d like to engage in that same type of work.

After completing college, Keith became a history teacher, a profession in line with his long-term interest in history and context that would later serve him well as he entered the community development space. Soon, he was working for an organization that helped distribute low-cost food to low income households. Not long after that, he began working with the Community Pride program of the Harlem Children’s Zone. Community Pride helped residents, among other things, convert their buildings to cooperative home ownership. In this work, Keith was focused on making sure that residents had agency and choice over their future, and the attendant dignity that comes with those. After leaving the Harlem Children’s Zone, Keith expanded his skills and experience by working with the Bronx based Mount Hope Housing Company, a CDC formed out of tenant and community organizing efforts. In his various roles at Mount Hope, Keith honed his skills in housing and community development projects that ranged from home rehab for low-income homeowners to affordable housing development and management, community facility development, individual development accounts and more.

Keith’s focus then became national, as he took up a position at Enterprise Community Partners, viewing the problems facing communities across the country from a national perspective, but still never losing sight of what he learned from people and communities he worked with in the Bronx and Harlem: the best community building is done in close concert with community residents themselves.

Keith at Way Finders

Having worked at a national level for some time, Keith was drawn to Way Finders by the prospect of maximizing his impact by working with a regional focus. Way Finders, which started as the Housing Allowance Project a demonstration program for what would later become the federal Section 8 rental assistance voucher program, today operates as a diversified affordable housing and community development organization. While rental assistance is one of Way Finders’ major programs, it also helps to create and manage homeless shelters, provide workforce development services, and to develop, own, and manage affordable housing.

Having recently completed the organization’s 3-year strategic plan, Keith tells us of his vision for “thriving equitable communities for all.” To this effect, the organization’s efforts are focused on 4 areas of collective impact: ending family homelessness, promoting wealth and upward mobility, strengthening community engagement and leadership, and transforming neighborhoods.

Achieving these goals, he says, will require perspectives from residents, clients, and stakeholders across the communities they serve. He also aims to take the varied work Way Finders is engaged in and bring it together in a more integrated fashion to produce the most optimal results. Keith hopes to induce a perspective where Way Finders looks at challenges across the continuum of need, breaking down silos and leveraging all tools at their disposal to anticipate need before it arises, and develop tailored solutions based on a close connection with the communities they are serving.

Looking Ahead and Advice for Others

When asked about his overall perspective on his work and what motivates him, Keith again brought us back to the lessons he learned from community residents of the Bronx and Harlem. He told us about community leaders making their stand. He told us how “they saw something in their neighborhoods, in each other, and were willing to fight for it, work through challenges, barriers, and build their knowledge and experience.” From this, he gained a deep belief in community connections and the importance of working and acting together.

Asked for advice for others working in the community development space, Keith’s words were direct and impassioned: “Listen deeply, and authentically collaborate with communities. It may be slower, it may be harder, but it makes for the best outcomes.”

About CEDAC

Baker-Polito Administration and Department of Early Education and Care announce FY22 Grant Awards through Early Education and Out of School Time Program

The Baker-Polito Administration and the Department of Early Education and Care (EEC) recently announced a total of $3,936,000 in FY22 funding through the Early Education and Out of School Time (EEOST) Capital Fund to 17 projects across the Commonwealth. EEOST funding is intended to provide center-based early education and out-of-school time care facilities with resources to make renovations that enhance health and safety, and the improvements made possible by these grants will impact over 2,300 young children served by the sites.

Child care is an essential part of our state’s infrastructure. While the COVID-19 pandemic underscored this truth in stark terms, it is something we at CIF have always believed and maintained as a core value. The provision of affordable, accessible child care for everyone across our State is eminently important. These programs provide vital support to working families and help us build toward a future where every child is offered the chance to grow and flourish regardless of circumstance.

CIF is proud to work alongside the Baker-Polito administration, and EEC to disburse these grants. CIF reviews applications for funding each year and co-manages the process to ensure critical funding is made available for child care centers that have demonstrated the greatest levels of need.

Below we have highlighted four projects that have received EEOST funds, just a sampling of the positive outcomes that will be achieved across Massachusetts through the distribution of these latest grants:

South Shore Stars Randolph Preschool, Randolph – $250,000
- Serving over 1,000 children, Stars provides comprehensive early education and youth development programs that enhance the optimal growth of children from economically and culturally diverse families, using a family support approach in collaboration with schools and other service providers. EEOST grants will be used to create a natural play space, including a turf area, patios, an outdoor classroom, sheds, and shade structures– all while incorporating features that honor the history of Randolph as the home of Massachusetts Ponkapoag People.
Behavioral Health Network’s Kidstop Children’s Center, Ware – $250,000
- Kidstop Children’s Center operates an early childhood education and out-of-school time program in Ware serving 39 children. EEOST grants will be used for a variety of critical improvements, including safety improvements to playground facilities, HVAC system improvements, floor and parking lot resurfacing, bathroom fixture replacements to incorporate child-sized sinks and toilets; exterior door replacement, and the installation of a new security system.
JFK Family Service Center, Charlestown – $185,000
- The John F. Kennedy Family Service Center, Inc., is a multi-service non-profit corporation. The organization has achieved expertise in early childhood education, daycare, after-school programs, antipoverty-based community services, and eldercare supports and services. EEOST grants will be used to increase accessibility at the site, including installing a ramp outside of a classroom to serve as an accessible egress and facilitating compliance with the emergency evacuation of infants in cribs. This will enable the center to begin serving infants for the first time.
Malden YMCA, Malden – $183,000
- Malden YMCA’s Early Learning Center addresses all aspects of child development and a wide range of enrichment activities, including swimming, music, and movement, and a health and nutrition curriculum. The EEOST grant will be used to make a number of safety improvements, including new flooring, a suspended ceiling in three rooms, an automatic door release at the main entrance, an alarm control system for eight classrooms, a door alarm between the gymnasium and child care area, and fencing for play areas.

The official funding announcement can be accessed here: https://www.mass.gov/news/baker-polito-administration-awards-39-million-to-improve-facilities-for-early-education-out-of-school-time-programs

For further information on CEDAC and CIF’s work in support of affordable child care, please visit: https://cedac.org/cif/

Baker-Polito Administration and CEDAC Award funding in 2022 Winter Rental Round to help create or preserve more than 1,474 units of affordable housing across Massachusetts

Projects stretch from Beverly and Boston to Chicopee with CEDAC commitments totaling $6.5 million.

BOSTON (Aug 11, 2022) – The Community Economic Development Assistance Corporation (CEDAC) is proud to announce its work as a financing partner in the production or renovation of 26 affordable housing projects announced during the Baker-Polito Administration’s most recent Winter Rental Round. state funding represents a combination of direct subsidies, state and federal tax credits, and other resources to support the creation and preservation of affordable housing through multiple funding rounds each year. These most recent awards announced on July 26^th comprise the biggest funding round of 2022 and include housing for seniors, families, and individuals.

CEDAC’s total commitment of $6.5 million in acquisition and predevelopment financing will facilitate affordable housing development by community development corporations and other non-profit entities. CEDAC provided predevelopment and/or acquisition financing to the following six projects:

Anchor Point Phase 2

Using CEDAC acquisition financing in January of 2018, Harborlight Community Partners, Inc. (HCP) acquired a five-acre site to develop the Anchor Point project. HCP will build 77 new affordable family rental units, all two and three-bedroom units, in two phases. Each phase will consist of a three-story wood frame building with a community room, common laundry and elevator, and the two buildings will be connected by a pedestrian bridge. The first phase of the project has completed construction and celebrated its ribbon-cutting on July 29^th. Anchor Point Phase 2 (Phase 2) will include 39 units affordable to low-income households at or below 60% AMI. Sixteen units will be reserved for households at or below 30% AMI, 8 of which will house formerly homeless families. CEDAC provided $948,306 in predevelopment and $1,620,000 in acquisition funds for the project.

150 River Street

Caribbean Integration Community Development (CICD), in partnership with The Planning Office for Urban Affairs (POUA), will construct a 30-unit affordable senior housing development on a vacant, one-acre, City of Boston-owned site on River Street in Mattapan. The project consists of three studio units and 27 one-bedroom units across three floors, as well as 2,800 square feet of common space. Of the 30 units, 11 are designated for 30% AMI households, 15 are designated for 60% AMI households, and four are designated for 70% AMI households. CEDAC provided a predevelopment loan of $750,000 for the project, as well as a $15,000 loan to CICD to support this emerging minority-led community development organization.

Aileron

Neighborhood of Affordable Housing, Inc. (NOAH), is constructing 36 units of affordable rental housing and 2,550 square feet of commercial studio space for artists. The project involves a five-story building with eight units for households at or below 30% AMI, and 28 units for households at or below 60% AMI, plus a common-area work bar and art gallery, shared laundry, and a management office. In response to a neighborhood desire to support local artists, the project will also include 17 artist work-space studios (commercial) of the units, and the building will also include three shared artist studios, a common-area work bar and art gallery, shared laundry, and a management office, a building with 17 artist work-space studios (commercial) available for rent with a preference for Aileron residents. NOAH received City of Boston developer designation with their proposal which will convert the long-neglected property into productive use. At an adjacent property NOAH is developing 7 mixed income ownership units. CEDAC provided $620,000 in predevelopment loan financing.

Carol Avenue Rehab

Carol Avenue Apartments is a 100-year-old property in Brighton, which was purchased by the Allston Brighton CDC in July 2018. The project consists of the preservation of 33 units in three adjacent buildings: 6 Carol Ave. (12 units), 10 Carol Ave. (10 units) and 12 Carol Ave. (11 units). The CDC is proposing an extensive renovation of the property which will include, among other work, new mechanical systems, windows, doors, added insulation, new ventilation, improved accessibility and new fire suppression. CEDAC provided a predevelopment loan of $250,000 for the renovation.

Belcher Apartments

Valley Opportunity Council, Inc. (VOC) will renovate an abandoned historic school building, known as Belcher School, and create 25 units of housing in Chicopee. The Belcher Apartments project will contain 25 units, including 2 one-bedroom units, 17 two-bedroom units, and 6 three-bedroom units. 22 units will serve households whose incomes are at or below 60% AMI, including 7 units reserved for households at or below 30% AMI and, in some cases, transitioning from homelessness. All residents will have access to supportive services and an on-site resident service coordinator will connect residents to various services offered by VOC and other area providers. There will be 3 market rate units and 3 fully accessible units. 43 off-street parking spaces will be created. This project received city support through inclusion in a zoning overlay district designed to assist projects like Belcher Apartments. CEDAC committed a predevelopment loan of $290,000 for the project.

22 Johnston Way

Stow Elderly Housing Corp. (SEHC) is constructing 37 new units and rehabilitating 50 existing units for seniors with supportive services at their Stow Apartments site. Funding sources include state and federal low-income housing tax credits and subsidy funds, plus local Community Preservation Act funds. All 87 units will be restricted for seniors earning less than 60% of AMI, with additional units further restricted for seniors earning less than 30% of AMI. CEDAC provided patient acquisition and predevelopment financing totaling $2,027,500 dating back to 2011, while SEHC sought 40B zoning approvals for the new units. SEHC’s perseverance, and the town’s unwavering support, will help to address the pressing need for high quality affordable homes for seniors in Stow.

About CEDAC

Baker-Polito Administration and CEDAC Award Funds to 11 New Supportive Housing Projects

CEDAC housing team joins Secretary Kennealy, Undersecretary Maddox and Kate Racer at the supportive housing announcements in Worcester.

CEDAC committed predevelopment or acquisition financing to 6 of these projects

BOSTON, July 20, 2022 – The Community Economic Development Assistance Corporation (CEDAC) is proud to serve as a financing partner in the production or preservation of 11 supportive housing projects announced during the Baker-Polito Administration’s most recent Supportive Housing funding round. The new projects represent 437 units of supportive housing and will provide essential shelter and care for individuals and families in need across the Commonwealth. CEDAC committed a total of over $5 million in early-stage financing for the production and preservation of six of these supportive housing projects.

“CEDAC is proud to collaborate with the Baker-Polito Administration and our non-profit housing partners on these new developments, which come at a time of intense need as the Commonwealth faces an ongoing housing shortage that affects the most vulnerable members of our population,” said Roger Herzog, CEDAC’s Executive Director. “We look forward to continuing our work with Undersecretary Jennifer Maddox and her team at the Department of Housing and Community Development (DHCD) as we pursue our mission to increase housing accessibility for those in need.”

CEDAC provided predevelopment and/or acquisition loans to the following projects:

Warren Street Housing, Boston: Commonwealth Land Trust, Inc. acquired two buildings, located at 570 and 570R Warren Street in the Grove Hall section of Dorchester, for renovation. The developer will create 26 single room occupancy (SRO) units of permanent supportive housing for vulnerable individuals. The site is located one block from Blue Hill Avenue and one-half mile from Franklin Park. All units will be affordable to individuals at or below 50% of the area median income (AMI), including 13 reserved for formerly homeless individuals at or below 30% AMI. CEDAC provided a predevelopment loan of $300,000 for the project.
Manley Housing Resource Center (Phase 1), Brockton: Father Bill’s & Main Spring (FBMS) will renovate and expand the former U.S. Army Reserve Center at 124 Manley Street in Brockton, which has been vacant since 2015, to create the Manley Housing Resource Center (MHRC), a multi-use facility that will provide emergency shelter, wrap-around supportive services, and permanent supportive housing, all in one location. The MHRC will be developed in two phases. The first phase, which is the subject of this award, will consist of the renovation of the U.S Army Reserve Center into a 128-bed emergency shelter and a day program center with an on-site health clinic. A 1,500-square-foot addition will house case management offices and supportive service space. CEDAC provided a predevelopment loan of $400,000 for the project.
Catalyst Housing, Lynn: Harborlight Community Partners, Inc. (HCP) and The Haven Project (THP) have entered into a joint venture agreement to acquire and renovate the third and fourth floors of a historic loft building located at 57 Munroe Street in downtown Lynn. The partnership will create 23 studio units for formerly homeless unaccompanied youth and one studio resident manager unit. Twenty-three units will be affordable to youth earning less than 30% of area median income. CEDAC provided a predevelopment loan of $256,252 for the project.
275 Chestnut Street, Springfield: In early 2020, Home City Development Inc. (HCDI) completed construction of 101 enhanced SRO units in the four upper floors of the former YMCA building located on Chestnut Street in Springfield. HCDI is now planning to purchase an additional section of the building and will use this space on the first and second floors to create 29 additional enhanced SRO units. CEDAC provided a predevelopment loan of $220,000 and committed acquisition financing of $350,000.
New Point Family Apartments, Salem: North Shore Community Development Coalition’s (NSCDC) project involves the acquisition and preservation of 18 units of naturally occurring affordable housing for families in three buildings in Salem’s Point neighborhood. The project will create long term affordability where none currently exists and will fund much needed capital improvements including enhanced energy efficiency. As the occupied units turnover, NSCDC will lease the apartments to homeless families and provide supportive services. CEDAC provided predevelopment loans totaling $437,100 and an acquisition loan of $2,874,400.
Gordon H. Mansfield Veterans Community, Tewkesbury: Soldier On, Inc. entered into a development agreement to purchase a 1.5-acre parcel of land at 1660 Main Street in Tewksbury to construct 21 units of permanent supportive housing for veterans who are homeless or at risk of homelessness. The project will consist of 18 one-bedroom units and three studios all affordable to households earning less than 80% of area median income, including six restricted for households earning less than 30% of area median income. CEDAC provided a predevelopment loan of $225,000.

CEDAC works with DHCD on all 11 of these funded supportive housing projects through its management of several state bond programs.

About CEDAC

Featured images: a rendering of Manley Street Housing project; CEDAC housing team with Secretary Kennealy, Undersecretary Maddox and Kate Racer.

CEDAC Commits Over $7.1 Million in Early-Stage Financing to Six Community Development Projects in Third Quarter of FY22

CEDAC is proud to report that we have committed $7,125,700 in early stage financing for the production and preservation of affordable housing in 6 projects during the third quarter of Fiscal Year 2022. Across the Commonwealth, we continue to see a healthy pipeline of housing development projects in urban neighborhoods and high opportunity suburban communities. CEDAC’s financial and technical assistance supports non-profit community development partners to plan and build these projects, helping navigate the housing development process during the predevelopment phase to secure site control, zoning and local permitting approvals, and finally construction and permanent financing commitments. As this year continues, we expect to assist in the creation of a large number of additional developments to meet the high demand for affordable housing from Massachusetts residents.

Read more about our lending commitments in Q3 of FY22.

Featured image: a rendering of East Boston CDC’s 2 Shawsheen Road project.

Baker-Polito Administration Announces $63 Million for Affordable Housing Production

15 projects in 14 communities will create or preserve more than 700 units of rental housing

BOSTON, 29, April 2022 – Community Economic Development Assistance Corporation (CEDAC) was delighted to join Housing and Economic Development Secretary Mike Kennealy in Gloucester on April 15th for the announcement of $63 million in new funding awards for 14 affordable housing projects across the Commonwealth. The Secretary was joined by Housing and Community Development Undersecretary (and CEDAC Board Chair) Jennifer Maddox, and CEDAC Executive Director, Roger Herzog, along with several state and local officials, and many representatives of the project sponsors receiving funding awards. The YMCA of the North Shore hosted this event in their beautiful new Gloucester facility, which also features an early education program supported by CEDAC’s affiliate, Children’s Investment Fund.

Led by the Mass Department of Housing and Community Development (DHCD), the awards will assist with the construction of 479 new units of affordable housing targeted to low-income households, with another 150 units designated for extremely low-income families or individuals often transitioning from homelessness. DHCD also awarded federal and state low-income housing tax credits, which are expected to generate over $200 million in equity to support both new construction and the rehabilitation of existing housing.

“With this round of affordable housing awards, we continue to expand the Commonwealth’s portfolio of new housing units to meet the needs of households of all income levels,” said Governor Charlie Baker in a press release. “As we continue to tackle the state’s housing crisis, these projects will result in meaningful progress toward our goal of enhancing access to safe, quality, and affordable housing across Massachusetts.”

“These projects are the result of key partners working together to produce needed new housing in Massachusetts and I’m excited we can provide important financial support to make these new units reality,” said Housing and Economic Development Secretary Mike Kennealy. “Affordable housing development is truly a team sport, and the cooperation and dedication to make these projects happen are incredible testaments to the strong affordable housing ecosystem in Massachusetts.”

“Today’s projects include a mix of new construction, historic rehabilitation, and transformative investments in our public housing stock. In Fitchburg and Springfield, we will see innovative, adaptive reuses of historic properties, and new construction will add vibrancy near the new Polar Park in Worcester,” said Housing and Community Development Undersecretary Jennifer Maddox. “We are incredibly proud to invest in projects that will invite new residents to communities, enhance neighborhoods, and ensure current residents can access stable, affordable housing. Here in Massachusetts, we have a strong network of affordable housing developers, funders, and advocates who have helped us bring thousands of new affordable units to the market over the last five years, and we look forward to continuing this work.”

“The projects announced in DHCD’s latest funding round represent the continued successes we are able to achieve through work with our non-profit partners and the Commonwealth,” said CEDAC Executive Director, Roger Herzog. “We remain committed to doing everything in our power to facilitate the creation of new affordable housing at a time of particularly acute need and look forward to working with Governor Baker and future administrations in service of that goal.”

CEDAC is proud to have committed a total of over $5.5 million in early stage predevelopment and acquisition financing to 7 of the 15 total projects announced, including these projects that secured DHCD funding awards:

- Chester Commons is an occupied 15-unit historic rehabilitation project located in Chester’s town center, a western Massachusetts community. CEDAC provided $400,000 in predevelopment financing and $655,000 in an acquisition loan for the project. The sponsor is the non-profit Hilltown Community Development Corporation, and DHCD will provide subsidy funds to support this project for older adults (55 and over) with an emphasis on accessibility.
- Fitchburg Arts Community is a historic adaptive re-use project located in Fitchburg. CEDAC provided $245,000 in predevelopment financing for the project. The non-profit sponsor is NewVue Communities. DHCD is supporting the project, located across the street from the Fitchburg Art Museum, with federal and state housing tax credits and subsidy funds. The city of Fitchburg will provide its own funds in support of Fitchburg Arts Community, a key project in its local economic development strategy. When complete, the project will offer 68 units of mixed income housing with a preference for artists. Forty-seven units will be available for artists or other households earning less than 60 percent of area median income (AMI), and 14 units further restricted for artists or other households earning less than 30 percent of AMI.
- The John J. Meany Affordable Housing development located in Gloucester is a new construction project specifically targeted for senior residents. CEDAC provided $586,666 in predevelopment financing for the project. The sponsor is the YMCA of the North Shore, who hosted the event. DHCD is supporting the project with federal and state low-income housing tax credits and subsidy funds. The city of Gloucester will provide funds of its own in support of the project which will offer 44 total units.
- Library Commons 2 is a 41-unit scattered site project located near downtown Holyoke. CEDAC provided $400,000 in predevelopment financing and $101,500 in an acquisition loan for the project. The sponsor is the non-profit Way Finders, Inc., and DHCD will support the project with federal and state low-income housing tax credits and subsidy funds. The city of Holyoke will also provide funds in support of Library Commons 2 and when complete, the project will offer 41 total units. Library Commons Phase I created and preserved 38 units of housing and was completed and leased up in August 2021.
- Island Parkside Phase 2 is a new construction project located in Lawrence. CEDAC provided $528,065 in predevelopment financing and $1,610,104 in acquisition loans for the project. The sponsor is the non-profit Lawrence Community Works, which will develop and own 40 affordable rental units built to PASSIVE House Standards. The first floor will include a youth and community center developed by Squash Busters Lawrence DHCD is supporting the 40 rental units with federal and state low-income housing tax credits and subsidy funds. The city of Lawrence will support Island Parkside Phase 2 with a commitment of HOME funds. Island Parkside Phase 1, also involving the new construction of 40 affordable rental units, is expected to be ready for occupancy in early 2023.
- 950 Falmouth Road is a new construction project located in Mashpee. CEDAC provided $550,000 in predevelopment financing. The sponsor is the nonprofit Preservation of Affordable Housing, and DHCD will support the project with subsidy funds. The town of Mashpee will support the project with funds of its own and when completed it will offer 39 total units.
- Maple Woods is a new construction project for seniors located in Wenham. CEDAC provided $447,500 in predevelopment financing. The sponsor is the non-profit Harborlight Community Partners, and DHCD will support the project with federal and state low-income housing tax credits and subsidy funds. When completed, Maple Woods — zoned through a lengthy Chapter 40B process– will offer 45 total units with services for seniors.

About CEDAC

NeighborWorks Groundbreaking

On February 16, CEDAC Executive Director Roger Herzog proudly joined Rob Corley of NeighborWorks Housing Solutions (NHS) and House Speaker Ron Mariano, Senator (and Housing Committee Chair) John Keenan, Representative Mark Cusack, Holbrook Town Administrator Gregory Hanley, and representatives from the Department of Housing and Community Development (DHCD), Massachusetts Housing Partnership, the Massachusetts Affordable Housing Trust Fund, the Quincy South Shore HOME Consortium, and construction lender Eastern Bank for a ground-breaking ceremony for NeighborWorks’ newest housing development in Holbrook.

The development, located at 120 N. Franklin Street in Holbrook Center, will be home to a 72-unit senior housing community made possible by the collaborative work, and advocacy of the project by NeighborWorks together with its development team, The Narrow Gate architecture, NEI General Contracting, and property manager Maloney Properties.

CEDAC provided $800,000 in predevelopment financing to NHS, as well as $1.1M in Housing Innovation Funds, part of the array of DHCD financial resources committed to this project.