mixed-used development with ground-level windows and front door

Approved Affordable Housing Program Initiatives

FHLBank Boston awarded more than $53.2 million in grants, loans, and interest-rate subsidies to support 29 affordable housing initiatives in New England and beyond in 2020. These projects, funded in part through the Affordable Housing Program (AHP), will create or preserve 1,197 rental and homeownership units for individuals and families earning up to 80% of the area median income. Below is a listing of the 2020 approved initiatives by state.

Connecticut

Awards: $15,523,807 in grants, loans, and interest-rate subsidies
Number of Projects: 6
Number of Affordable Units: 280
Cities + Towns: Branford, Hartford, Madison, Monroe, Torrington, Uncasville

Parkside Village I

Location: Branford
Member: Citizens Bank
Sponsor: Beacon Communities LLC and Branford Affordable Housing, Inc.  
Affordable Units: 60 rental units
​Subsidy: $688,306 grant and subsidy, $4,862,891 loan

Acquisition and new construction to redevelop an existing 50-unit property owned by the Branford Housing Authority in Branford. The project will create 60 affordable units and seven additional market-rate units. A single low-rise building will house all 67 units in one- and two-bedroom apartments. Three existing structures built in 1974 will be demolished. All three structures suffer from deferred maintenance, termite damage, and poor accessibility, making renovation cost prohibitive. Forty-four units will be affordable to households earning less than 50% area median income (AMI) while 16 units will be for households earning between 51 and 60% AMI. A community room, wellness center, and computer center will be constructed for resident use as part of the project. Landscaping will preserve site trees and encourage passive recreation. The project will be designed to LEED Silver and Passive House standards. Citizens Bank will provide construction financing and permanent debt through an AHP Subsidized Advance.

Westbrook Village IV

Location: Hartford
Member: MHIC, LLC
Sponsor: Pennrose Holdings, LLC, Overlook Development Corporation, and Pennrose LLC
Affordable Units: 45 rental units
Subsidy: $999,815 grant and subsidy, $1,330,000 loan

New construction to create 60 rental apartments in Hartford. This is the fourth of a multi-phase initiative aimed at revitalizing Westbrook Village, an existing public housing development. The property is positioned as a catalyst for reinvestment and commercialization in the area, which will assist in creating a highly desirable, vibrant, mixed-use gateway into Hartford. Out of the 60 total units, 15 units are targeted to market-rate tenants. The remaining 45 units are affordable, 12 of which will be supportive housing units set aside for the homeless or chronically homeless with incomes at or below 30% of the area median income (AMI).  Twenty-four units will serve households earning up to 50% AMI and nine will target households earning up to 60% AMI. The project will meet Passive House and high-performance building design that includes a stand-alone community building. MHIC, LLC will provide permanent financing with an AHP Subsidized Advance and conventional debt.

Wellington at Madison

Location: Madison
Member: Guilford Savings Bank
Sponsor: The Caleb Foundation, Inc., Cottage Road Development Partners, LLC, and Hope Partnership
Affordable Units: 24 rental units
Subsidy: $820,627 grant and subsidy, $2,000,000 loan

Acquisition, construction, and rehabilitation of an existing historic farmhouse and barn to create 31 rental apartments in Madison. This initiative is located in a high-opportunity area that is near open space, recreation, the coast, and the Connecticut River. The project will be a mixed-income development with seven market-rate units and 24 affordable housing units. Seven units will be affordable to households at or below 30% of the area median income (AMI), 13 will be affordable to households at or below 50% AMI, and the remaining four units will be affordable to households at or below 60% AMI. Guilford Savings Bank will provide permanent financing through an AHP Subsidized Advance.

195-211 Main Street

Location: Monroe
Member: Fairfield County Bank
Sponsor: Mutual Housing Association of Southwestern Connecticut, Inc. 
Affordable Units: 49 rental units
Subsidy: $842,353 grant and subsidy; $1,000,000 loan

Acquisition and new construction to create 49 affordable senior housing units in rural Monroe. The three-story elevator building will be constructed on a 2.03-acre site comprised of three adjacent parcels that include two single-family residences and undeveloped land. The existing structures will be demolished. All 49 units will be affordable to households earning less than 50% of the area median income. To accommodate the needs of aging seniors, all units will be built to ADA standards. Only 2% of Monroe’s housing stock is considered affordable and the Connecticut Housing Finance Authority has noted a substantial need for such housing in Fairfield County’s high opportunity communities. Fairfield County Bank will provide construction financing and permanent debt through an AHP Subsidized Advance.

Torrington Riverfront

Location: Torrington
Member: Torrington Savings Bank
Sponsor: Pennrose Holdings, LLC and Pennrose LLC
Affordable Units: 45 rental units
​Subsidy: $999,815 grant and subsidy, $1,330,000 loan

Acquisition and new construction to create 60 rental apartments in Torrington. Located in an Incentive Housing Zone, the proposed four-story structure will be a mixed-use and mixed-income development, facing a river. The project will be the first substantial new construction project in decades. Construction will include Passive House and Energy Star standards. The property will be comprised of 45 affordable units and 15 market-rate units. The affordable units will include 12 supportive units for residents with intellectual disabilities earning up to 30% of the area median income (AMI), 24 units will be  affordable to households earning up to 50% AMI, and nine will be affordable to households earning up to 60% AMI. Torrington Savings Bank will provide permanent financing including both an AHP Subsidized Advance and conventional debt.

​Oxoboxo Lofts

Location: Uncasville
Member: Boston Private Bank & Trust Company
Sponsor: Dakota Partners and Madison Park Development Corporation
Affordable Units: 57 rental units
Subsidy: $650,000 grant

Acquisition and redevelopment of a former factory in rural Uncasville to create 72 residential units. Set on a 10.64-acre site with a brook, Oxoboxo Lofts will reuse the 11 historic buildings to create a vibrant mixed-income, mixed-use development. Fifteen units will be reserved for extremely low-income homeless households. Forty-two one- and two-bedroom apartments will provide affordable housing for households below 60% of area median income. The remaining 15 apartments will be market rate. Residents will benefit from employment services, transportation, financial planning, and budgeting. Boston Private Bank & Trust Company will provide the permanent financing.

​Maine

Awards: ​$10,349,251 in grants, loans, and interest-rate subsidies
Number of Projects: 5
Number of Affordable Units: 156
Towns + Cities: Houlton, Portland, Scarborough, Thomaston 

​Maliseet Rehab Project

Location: Houlton
Member: Bangor Savings Bank
Sponsor: Houlton Band of Maliseet Housing Authority 
Affordable Units: 23 rental units
Subsidy: $650,000 grant

Rehabilitation of 23 single-family homes which will be rented to multigenerational families of the Houlton Band of Maliseet Indians in rural Houlton. The homes, located on scattered sites owned by the tribal Housing Authority, currently have mold and moisture issues, which are becoming health concerns for the residents. Sufficient drainage was not provided when the homes were built in the 1980s and 1990s, creating a problem with water infiltration and moisture. This project will rehabilitate the units and remediate the hazards, creating safe, reliable housing for future generations. Nineteen units will be affordable to households earning up to 50% of the area median income (AMI), two units up to 60% AMI, and two units up to 80% AMI. This occupied rehabilitation project includes seven households with residents with disabilities or special needs. Bangor Savings Bank is providing a construction line of credit.

​Front Street Redevelopment Phase 2

Location: Portland
Member: Bath Savings Institution
Sponsor: Portland Housing Authority and Portland Housing Development Corporation
Affordable Units: 45 rental units
Subsidy: $876,255 grant and subsidy, $3,162,077 loan

New construction of 45 rental units in Portland to replace physically obsolete public housing. This is the second phase in the redevelopment of the Front Street community that began with a strategic visioning process in 2015.  The project will consist of a three-story building and provide open space, community room, and free broadband WiFi. The site provides direct access to one of Portland's largest parks, located across the street. Construction will include highly efficient mechanical and building envelope systems to reduce operating costs in the long run. The initiative will target 17 households at 60% of area median income (AMI) and 28 at 50% AMI. Bath Savings Institution will provide two loans to the project: construction financing and the permanent debt through the AHP Subsidized Advance.

​Jocelyn Place

Location: Scarborough
Member: Bangor Savings Bank
Sponsor: South Portland Housing Development Corporation and South Portland Housing Authority 
Affordable Units: 60 rental units
Subsidy: $1,000,000 grant and subsidy, $2,231,780 loan

Acquisition and new construction to create 60 rental units in rural Scarborough. All units are one-bedroom units and will be restricted for very low- and extremely low-income individuals aged 55 and older. The new building will consist of three floors with a common area and garden on the first floor. Energy will be provided by a solar array on the roof and there will be onsite parking. The building is within half of a mile of grocery and retail stores. Resident services include fraud avoidance training, financial planning, health care and mental health counseling. Bangor Savings Bank is providing construction financing and permanent financing through the AHP Subsidized Advance. 

​Pine Street Apartments

Location: Thomaston
Member: Bangor Savings Bank
Sponsor: Volunteers of America, Northern New England, Inc. 
Affordable Units: 16 rental units
Subsidy: $765,465 grant and subsidy, $439,000 loan

Acquisition and rehabilitation to preserve 16 affordable rental housing units in rural Thomaston. This property is part of USDA Rural Development's 515 program and is nearing maturity. This initiative will preserve and extend the project's affordability. Units will be equally divided between two identical two-story walk-up buildings, each with four one-bedroom and four two-bedroom apartments. A capital needs assessment informed the scope of work, which includes moderate rehabilitation on the unit interior and exterior as well as general site work. Ten units will be affordable to households earning less than 50% of area median income (AMI) while six units will be affordable for households earning between 61 to 80% AMI. A new solar installation will decrease energy costs for the development. Bangor Savings Bank will provide construction financing and permanent debt through an AHP Subsidized Advance.

​Water Street Apartments

Location: Thomaston
Member: Bangor Savings Bank
Sponsor: Volunteers of America, Northern New England, Inc. 
Affordable Units: 12 rental units
Subsidy: $769,674 grant and subsidy, $455,000 loan

Acquisition and rehabilitation of 12 rental units in rural Thomaston to preserve this existing affordable property, originally financed through the USDA Rural Development 515 program. The project will renovate a two-story walk-up building and will target eight households at 50% of area median income (AMI) and four units at 80% AMI. The renovation scope will include site work, building envelope and interior improvements, along with installation of a photovoltaic array on the roof. The renovations will also address active plumbing leaks causing mold and mildew resulting from considerable amount of deferred maintenance. Bangor Savings Bank will provide two loans to the project: construction financing and the permanent debt through the AHP Subsidized Advance.

​Massachusetts

Awards: $7,194,708 in grants, loans, and interest-rate subsidies
Number of Projects: 5
Number of Affordable Units: 210
Towns + Cities: Boston, Chatham, Chester, Salem, Spencer

​Eva White Apartments 

Location: Boston
Member: Citizens Bank
Sponsor: WinnDevelopment Company Limited Partnership and Castle Square Tenants Organization
Affordable Units: 102 rental units
Subsidy: $650,000 grant 

Acquisition and preservation of 102 affordable rental units in two seven-story buildings for elderly and disabled residents in Boston’s South End neighborhood. This federal Rental Assistance Demonstration (RAD) redevelopment will convert former public housing units into privately owned and managed affordable housing. Boston Housing Authority will donate the site through a long-term ground lease. Sixty-two units will continue to target households below 50% of the area median income (AMI).  Thirty-five units will target households below 60% AMI, and five will be reserved for households below 80% AMI. All the residents will benefit from project-based rental assistance. The planned scope of work will replace all building systems including elevators, roofs, building envelopes, lintels, heating, ventilation, and air conditioning, and fire safety systems. Kitchen, bathroom, and accessibility improvements will also be made to enhance the residents' quality of life and the buildings' overall performance. Citizens Bank will provide construction financing. 

​Chatham George Ryder Road Community Housing

Location: Chatham
Member: Cape Cod Five Cents Savings Bank
Sponsor: Habitat for Humanity of Cape Cod, Inc. 
Affordable Units: 2 homeownership units
Subsidy: $60,000 grant

New construction of two single-family homes for first-time homebuyers built on a .46-acre lot in rural Chatham. The homes will be targeted to residents earning no more than 80% of the area median income. There will be a two-bedroom Cape-style ranch with a porch and a three-bedroom Cape-style with a basement and a porch. Both homes can be adapted to accommodate disabilities. Homebuyers will benefit from homebuyer education, sweat equity, financial empowerment workshops, and fraud avoidance training. The land was donated by the Chatham Affordable Housing Trust. Cape Cod Five Cents Savings Bank will provide construction financing and USDA will provide mortgage financing to the homebuyers.

​Chester Commons

Location: Chester
Member: Florence Bank
Sponsor: Hilltown Community Development Corporation
Affordable Units: 15 rental units
Subsidy:  $650,000 grant

Acquisition and rehabilitation of an existing historic structure to create 15 rental units for residents with disabilities or residents aged 55 years old or older in rural Chester. This initiative will maintain the 99-year lease with the town to continue the public use of the Hamilton Memorial Library and Museum, currently located in the building. All units will be available to households earning no more than 60% of the area median income. The rehabilitation includes repairs to building exterior, moderate renovations to apartment interiors and common areas, accessibility upgrades, and boiler replacement. Drainage and storm water improvements will also be completed. Residents will benefit from employment training and job readiness. Florence Bank will provide construction financing.

​Lafayette Housing II

Location: Salem
Member: Eastern Bank
Sponsor: North Shore Community Development Coalition, Inc. 
Affordable Units: 61 rental units
Subsidy: $997,283 grant and subsidy, $2,924,405 loan

​Acquisition and rehabilitation of 11 buildings to create 61 rental apartments on nine properties for very low- and extremely low-income individuals and families in the historic Salem Point neighborhood. The complex includes a mix of one-, two-, three-, four- and five-bedroom units. All units are rent-restricted and subject to Low Income Housing Tax Credit regulatory agreements and will be preserved as a result of this project. The rehabilitation will focus on improving the physical integrity of the structures while maintaining the historic character of the buildings and redress water infiltration issues. It will include two commercial spaces. Eastern Bank is providing construction financing and the permanent debt through the AHP Subsidized Advance as well as tax credit syndication bridge financing for the project.

​Lake Street-Spencer

Location: Spencer
Member: Citizens Bank
Sponsor: Women’s Institute Realty, Inc. and Mainstay Supporting Housing and Home Care, Inc.
Affordable Units: 30 rental units
Subsidy: $913,020 grant and subsidy, $1,000,000 loan

Acquisition, demolition, and construction of 30 rental homes to provide supportive housing for low-income seniors on the site of a former decommissioned school in Spencer. Eight apartments will serve households earning up to 30% of the area median income (AMI), 16 units will be affordable for households earning up to 50% AMI, and six for households earning up to 60% AMI. The 10-acre site is donated through long-term, below-market ground lease. This initiative will participate in the local continuum of care network and reserve eight units for homeless households. The sponsor will develop a comprehensive service plan with the co-sponsor Mainstay Supportive Housing and Home Care. The scope of work includes demolition, lead and asbestos remediation, and construction of a highly energy-efficient building with elevator service. Site planning will accommodate enhanced outdoor programming, walking paths, and passive recreation. Citizens Bank will provide construction financing and permanent debt through the AHP Subsidized Advance.

​New Hampshire

Awards: $12,304,394 in grants, loans, and interest-rate subsidies
Number of Projects: 4
Number of Affordable Units: 128
Towns + Cities: Conway, Farmington, Manchester, Nashua

Technology Village – Phase I

Location: Conway
Member: Bangor Savings Bank
Sponsor: Avesta Housing Development Corporation
Affordable Units: 30 rental units
Subsidy: $999,570 grant and subsidy, $1,350,000 loan

Technology Village Phase I is the first part of a multi-phase mixed-rental project located in Conway. Phase I will include 40 rental apartments for families not exceeding 60% of area median income. The multi-phase project will include a total of 156 units for seniors and families. Situated on 37 acres, the Phase I three-story wood frame structure will combine Passive House standards with rural, small town character. It will also include parking, elevators, a community room, laundry and walking trails. Landscaping will include space for community garden areas and sitting areas for residents. Most of the site will be conserved, leaving woodlands and walking trails near the Saco River. The sustainable development plan will improve energy efficiency and indoor air quality. A geothermal domestic hot water system, package terminal heat pumps, water conserving fixtures, Energy Star appliances, and solar panels will also support the initiative's efficient design. Bangor Savings Bank will provide two loans to the project: construction financing and permanent debt through the AHP Subsidized Advance.

​Central and Crowley

Location: Farmington
Member: Bangor Savings Bank
Sponsor: Avesta Housing Development Corporation
Affordable Units: 21 rental units
Subsidy: $1,000,000 grant and subsidy, $1,335,870 loan

Acquisition and rehabilitation of 21 rental units in Farmington. The site consists of two buildings located in the Village Center District. The Central Building was constructed in the late 1940s and was formerly used as a hotel, which was renovated into 11 apartments in 1971. Constructed in the 1950s, the Crowley Building is a three story, 10-unit garden-style apartment building. Both buildings are in declining physical condition. This rehabilitation will preserve a much-needed affordable housing for individuals in need in this rural location where housing can be hard to find. Redevelopment will enhance life safety systems, make exterior and interior improvements, and add laundry facilities. In addition, the scope of work will improve the buildings' energy-efficiency and livability for the residents. All units will be subsidized with project-based Section 8 Housing Assistance Payments and serve 14 households at 50% area median income (AMI) and seven households at 60% AMI. Bangor Savings Bank will provide two loans to the project:  construction financing and the permanent debt through the AHP Subsidized Advance.

​Mary Gale Apartments

Location: Manchester
Member: Citizens Bank
Sponsor: Manchester Housing and Redevelopment Authority
Affordable Units: 37 rental units
Subsidy: $644,094 grant and subsidy, $650,000 loan

Acquisition and rehabilitation of 37 rental apartments in Manchester. The project is a three-story, historically significant building, occupying an entire city block. The project provides supportive housing for elderly or people with disabilities who without assistance to remain independent might otherwise lose their housing or be prematurely institutionalized. The project is comprised of 37 one-bedroom and two-bedroom units serving 14 individuals and families earning at or below 60% of area median income (AMI) and 23 individuals or families at or below 50% AMI. These apartments will be reserved for homeless households as they turn over. Citizens Bank will provide permanent financing through an AHP Subsidized Advance.

​Bronstein Redevelopment

Location: Nashua
Member: Eastern Bank
Sponsor: Boston Capital Development, LLC and Nashua Housing and Redevelopment Authority
Affordable Units: 40 rental units
Subsidy: $999,860 grant and subsidy, $5,325,000 loan 

Demolition and new construction to create 50 rental apartments on a 4.2-acre site in Nashua. This initiative is the first of two phases to create 216 affordable units. The sponsor will develop this in partnership with the Nashua Housing and Redevelopment Authority through a long-term, low-cost ground lease. Originally constructed in 1974, the current building is obsolete and needs to be replaced. The current residents will be relocated and assisted through a HUD-approved relocation plan. Forty of the existing 48 units will be preserved and affordable for very low- and extremely low-income families. Ten units will be market rate. The new building will consist of four floors with elevator service. The site includes surface parking. Eastern Bank is providing permanent financing through an AHP Subsidized Advance.

​Vermont

Awards: $4,272,143 in grants, loans, and interest-rate subsidies
Number of Projects: 6
Number of Affordable Units: 147
Cities + Towns: Barre, Bennington, Randolph, Wells River, West Burke, Williston

​Barre Recovery Residence

Location: Barre
Member: Northfield Savings Bank
Sponsor: Downstreet Housing and Community Development
Affordable Units: 5 rental units
Subsidy: $273,500 grant

Creation of five recovery housing units for families in Barre. This is the second recovery residence in the Vermont and will serve as a model for future residences. The project reuses a three-story, wood-framed duplex to provide affordable housing to five homeless, very low-income families. Three of the five units will provide transitional housing. These families will share kitchen, dining, baths, laundry and multi-function space and strive to create a family-like atmosphere. The building will be upgraded to meet current life safety codes, improve building systems, and replace damaged and deteriorated interior and exterior finishes so that the building remains sustainable for the next 20 years. All of the residents will benefit from substance abuse and mental health services, financial planning, and credit counseling. Northfield Savings Bank will provide a direct investment in the Low Income Housing Tax Credits.

​300 Pleasant Street

Location: Bennington
Member: Berkshire Bank
Sponsor: Shires Housing
Affordable Units: 9 rental units
Subsidy: $450,000 grant

Rehabilitation of two buildings in rural Bennington to replace and expand supportive transitional housing for homeless families offered by the Bennington County Coalition for the Homeless (BCCH). BCCH will enter into a long-term lease agreement to operate this supportive housing initiative. The rehabilitation will include the renovation of seven existing units and the creation of two additional units aimed for households earning no more than 50% of area median income. It will include eight one-bedroom flats and one two-bedroom flat, as well as office space and a garage/storage area. The goal of the project is to replace BCCH's nearby existing family transitional housing program currently overwhelmed by overcrowding and various code violations. This new facility will provide more space and proximity to employment opportunities, schools, and services. Berkshire Bank will act as the Low Income Housing Tax Credit investor.

​Randolph House

Location: Randolph
Member: Northfield Savings Bank
Sponsor: Randolph Area Community Development Corporation
Affordable Units: 48 rental units
Subsidy: $925,643 grant and subsidy, $1,048,000 loan

Preservation and expansion of 48 units of HUD-supported housing for seniors and individuals with disabilities in downtown Randolph. The seven-story brick building is on a sloped, one-acre site with easy walking or wheelchair access to grocery stores, restaurants, and other community amenities, including public transportation. The scope of work includes installation of a new elevator, rehabilitation of the building envelope, and accessibility improvements. A single-story addition will expand the common area meeting space and offices. These improvements will ensure the project's viability for the future. Twenty-nine apartments will be affordable for households earning up to 50% of the area median income and the remaining units will be affordable for low- to-moderate income households. Northfield Savings Bank will provide permanent financing using an AHP Subsidized Advance and invest in the Low Income Housing Tax Credit equity.

​Wells River Historic Housing 

Location: Wells River
Member: People’s United Bank
Sponsor: Evernorth and Downstreet Housing and Community Development, Inc.
Affordable Units: 25 rental units
Subsidy: $425,000 grant

Acquisition and rehabilitation of five buildings in the Historic District of Wells River to create a 29-unit mixed-use and mixed-income development. Twenty-five of the 29 apartments will be reserved for households earning under 60% area median income. Eleven of these will be reserved for homeless individuals and households. Four will be market units. This project preserves an important community asset that includes the post office, a physical therapy office, laundromat, and barbershop. The planned scope of work addresses site improvements, and building system, envelope, fire safety, and energy-efficiency needs to enable the properties to be sustainable for the foreseeable future.  The residents will benefit from homeownership counseling, financial planning, and budgeting, as well as onsite primary health and case management services through the Support and Services at Home program. People's United Bank will make an equity investment in the Low Income Housing Tax Credits for the project. 

​West Burke Housing

Location: West Burke
Member: Community National Bank
Sponsor: Evernorth and Gilman Housing Trust, Inc. 
Affordable Units: 23 rental units
Subsidy: $500,000 grant

Acquisition, rehabilitation, and new construction to create 23 rental units serving both seniors and families in rural West Burke. Situated on 10 acres, the property will encompass five buildings which will serve very low and extremely low-income individuals and families, including a nine-unit building designated for seniors and disabled residents. One new building with eight units will be built. Four existing buildings with 15 units will be rehabilitated. The existing units require extensive interior and exterior rehabilitation and will be preserved as a result of this project. Vermont State Housing Authority has provided rental vouchers for all 23 units. Support and Services at Home (SASH) services are offered to all residents. The community owns and operates a private water system which will need to be expanded to accommodate the additional units. Community National Bank will invest as a limited partner in the Low Income Housing Tax Credit limited partnership. 

​Whitney Hill Homestead 

Location: Williston
Member: People’s United Bank
Sponsor: Cathedral Square Corporation
Affordable Units: 37 rental units
Subsidy: $625,000 grant

Acquisition and rehabilitation to preserve 44 units of service-enriched, senior housing in Williston.  Thirty-seven of the 44 units target households below 60% of area median income and the remaining seven are market units.  Originally designed in 1992 to fit within the historic nature of the neighborhood, this three-building facility now requires substantial rehabilitation to prepare it for the next 20 years. The main building contains 30 residential units. The second is a Carriage House containing 14 units. The third is a community building. The planned scope of work includes substantial envelope improvements including roofs, siding, and windows, as well as the replacement or upgrading of all buildings systems including heat, hot water, fire suppression, ventilation, and accessibility. The work will be completed in six phases organized to minimize the impact on residents and will greatly improve residents' safety and comfort while reducing the properties'  operating costs. A coordinator and part-time wellness nurse will provide comprehensive support through the Support and Services at Home program (SASH).  People's United Bank will provide the Low Income Housing Tax Credit equity in this project. 

​States Outside of New England

Awards: $3,591,924 in grants, loans, and interest-rate subsidies
Number of Projects: 3
Number of Affordable Units: 276
Cities + Towns: Miami, Florida; Proctorville, Ohio; Philadelphia, Pennsylvania

​Cutler Manor II

Location: Miami
Member: Boston Private Bank & Trust Company
Sponsor: Preservation of Affordable Housing, Inc.
Affordable Units: 113 rental units
Subsidy: $991,924 grant and subsidy, $1,300,000 loan 

Acquisition and new construction of 113 rental units in Miami to expand affordable housing in one of the highest rent-burdened counties in the nation. This is the first of a two-phase plan to preserve 218 units of Section 8 housing and redevelop a functionally obsolete apartment complex. The project will incorporate a mix of townhouses, garden apartments, and a four-story mid-rise building. The amenities will include parking for residents and guests, an outdoor plaza, play area, bike racks, walking paths, green spaces, community engagement spaces, a fitness center, and computer center. Construction will be designed to meet current hurricane standards, including impact-resistant windows. This initiative will serve 19 units targeted to households at 30% of area median income (AMI); 49 units targeted to households at 50% AMI and 45 units targeted to households at 80% AMI. Boston Private Bank & Trust Company will provide the permanent debt through the AHP Subsidized Advance.

​Applewood Apartments

Location: Proctorville
Member: Citizens Bank
Sponsor: Ironton-Lawrence County Community Action Organization
Affordable Units: 50 rental units
Subsidy: $650,000 grant

Creation of 50 units of affordable family housing in rural Proctorville. The project design will consist of unique stacked townhomes over flats that combines the efficiency of traditional multifamily housing with the added benefit of individual entrances. The project will target eight households below 30% of area median income, 22 below 50%, and 20 below 60%. The ground-floor units will feature private patios. The one- and two-bedroom units located on the upper floors will be accessed through individual entrances with stairs up to the main living area. These two-bedroom units will have a living room, kitchen, dining area, and a half-bath, as well as bedrooms, a full bath, laundry, and storage closets on the second floor. The apartments will be spread among four three-story residential buildings set back from the street and buffered by a daycare center, concurrently developed with the apartments and operated by the sponsor. The energy-efficient design will include a greywater recycling system, which will reduce operating costs by reusing 208,000 gallons of shower and tub water. Citizens Bank will provide construction financing.

​Harlan Sharswood Redevelopment

Location: Philadelphia
Member: Citizens Bank
Sponsor: Better Tomorrows
Affordable Units: 113 rental units
Subsidy: $650,000 grant

​Acquisition, new construction, and rehabilitation to create 113 affordable housing units and one market-rate unit in Philadelphia. The project will rehabilitate 74 units and create 40 new units as part of a cohesive infill of 20 buildings with historic rowhouses in the Sharswood/Blumberg neighborhood of North Philadelphia. The Harlan Sharswood project is one piece to the overall redevelopment of the entire area led by a HUD Choice Neighborhood Initiative grant. Eighty-two units will be affordable to households earning at or below 50% of area median income (AMI), while 31 units will be affordable to households earning between 51 to 60% of AMI. The project will feature a community clubhouse with a computer room, fitness center, and multipurpose space. Citizens Bank will provide construction financing.

Eligibility + Scoring

Find details about scoring criteria, eligible uses of funding, and the AHP Implementation Plan in this section.

Application + Reporting

Members and developers who are considering applying in the future can review important details about the AHP application and reporting process.

Forms + Applications

Locate the AHP form and application you need here.

*FHLBank Boston has developed its Affordable Housing Program (AHP) in compliance with the Federal Housing Finance Agency's AHP Regulation, which is contained in the Code of Federal Regulations, Chapter XII, Part 1291. The agency is the regulator of the 11 district Federal Home Loan Banks.