Approved Affordable Housing Program Initiatives

Location: Hartford
Member: Massachusetts Housing Investment Corporation
Sponsor: Boston Communities, Arch Communities LLC
Affordable Units: 57 rental units
​Subsidy: $750,000 grant

110 Washington is the adaptive reuse of the historic Hartford Trade School building into 57 income-restricted apartments for low- and moderate-income families. This rehabilitation will convert the building into a mix of studios, one- and two-bedroom units, preserve the historic elements of the exterior masonry and interior elements and maintain the central circulating elements of the school itself, including stairwells, corridors, and elevator shaft. The scope of work will result in a building that is 25% more efficient than existing codes, along with community space, gym/fitness center, and expanded green space. Massachusetts Housing Investment Corporation will invest in this initiative by purchasing the state tax credits.

Location: Hebron
Member: Liberty Bank
Sponsor: NDC Housing and Economic Development Corporation, Commons Community Development Corporation
Affordable Units: 48 rental units
​Subsidy: $850,000 grant

Church Street Commons will create 48 rental units in the town center, 14 of which will be affordable to households earning 50% of area median income (AMI), 28 units will be affordable at 60% AMI, and six units at 80% AMI. The development will consist of townhomes at the front of the property and an apartment block at the rear of the site and will be constructed in accordance with historic preservation standards and local design guidelines. The site plan features a front lawn typical of the district reinforcing the community character, a shared garden, outdoor seating, and onsite storm-water storage. The project is adjacent to a town park, elementary school, hiking trails, and other amenities. Liberty Bank will provide permanent financing.

Location: Salisbury
Member: Torrington Savings Bank
Sponsor: Salisbury Housing Committee, Inc.
Affordable Units: 20 rental units
​Subsidy: $1,196,307 grant and subsidy, $1.3 million loan

Salisbury Housing Committee will create 20 affordable rental units, 12 of which will be affordable to individuals at 50% AMI and eight that are affordable to individuals at 80% AMI. Dresser Woods will consist of nine clustered buildings on a 5.3-acre site donated by an abutting neighbor, with half of the site remaining undeveloped to protect existing wetlands and trees. Site work also includes significant storm-water management systems for wetland protection and the construction of driveway and infrastructure. The development is walkable to the town center and adjacent to the rail trail, with each unit having private outdoor space. The buildings will be Energy Star-rated to improve energy efficiency and residential livability. The development will be open to households of all sizes and ages and benefits from strong community and town support. Torrington Savings Bank will provide construction and permanent financing.

Location: Belfast
Member: Bangor Savings Bank
Sponsor: Waldo Community Action Partners
Affordable Units: 40 rental units
​Subsidy: $850,000 grant

Belmont Avenue Apartments will create 60 newly constructed mixed-income apartments designed for accessibility and community living. The building will feature an elevator, community room, office, laundry on each floor, playground, parking, and a traditional exterior with universal design elements. Thirty-six units will be affordable to residents earning at or below 50% AMI, four units for 60% AMI, and 20 units will be market rate. Nine units are ADA compliant and all units are cable/internet-ready with utilities included in rent. The site is sloped and located near retail and downtown, with open-plan living and natural light prioritized for resident comfort and accessibility. Bangor Savings Bank will be providing construction financing.

Location: Biddeford
Member: Maine Community Bank
Sponsor: Westbrook Development Corporation, Westbrook Housing Authority
Affordable Units: 40 rental units
​Subsidy: $1,199,117 grant and subsidy, $1.2 million loan

Westbrook Development Corporation’s Quebec Commons initiative will construct 45 affordable and market-rate rental units in downtown as part of the first of two phases of housing planned for a former industrial site designed to mirror the architecture of the surrounding mill buildings. When complete, the campus will feature a courtyard that will tie the buildings to the heart of downtown Biddeford. Of the 45 units, 27 will be available for individuals earning less than 50% AMI, 13 will be for individuals up to 60% AMI, and 5 will be market rate. The development will be a four-story building featuring efficient HVAC with amenities including a community room, laundry facilities, and accessible parking. The project will receive brownfield grant funding to transform a blighted parcel into a community asset. Maine Community Bank will provide construction and permanent financing.

Location: Freeport
Member: Bath Savings Institution
Sponsor: Freeport Housing Trust, Inc.
Affordable Units: 42 rental units
​Subsidy: $749,842 grant

Varney Heights will create 42 age-restricted apartments for residents aged 55 and older. The three-story building will feature a mix of one- and two-bedroom units, with amenities such as a laundry, a property management office, a library, a community room, garden beds, and onsite parking. Three units will be for residents earning at or below 30% AMI, 23 units at/below 50% AMI, and 16 units at/below 60% AMI. The site design includes retaining walls and a stormwater catchment area to minimize environmental impact on nearby wetlands. The building will utilize a Variable Flow Refrigerant system for efficient heating and cooling, and three units will be supported by Section 8 project-based vouchers. Bath Savings Institution will provide construction financing.

Location: Lisbon
Member: Norway Savings Bank
Sponsor: Realty Resources Development LLC, Coastal Affordable Housing
Affordable Units: 42 rental units
Subsidy: $980,930 grant and subsidy, $350,000 loan

Winter Street apartments will replace the nearby Farwell Mill apartment complex with 42 newly constructed affordable rental apartments for low- and moderate-income households, preserving the existing income-restricted apartments. Farwell Mill is an expiring-use, low-income housing credit property, requiring more capital and debt to recapitalize than can be supported by restricted rents and public funding. The current owner and Maine Housing have negotiated to transfer the extended use agreement from Farwell Mill to the new site, as well as its existing reserves, to facilitate this replacement housing initiative. New federal credits and state funding will also finance this initiative and ensure long-term affordability. This initiative includes two residential buildings with a mix of one-, two- and three-bedroom units, as well as a community building, a police substation, and a covered bus stop. To facilitate secondary traffic and public safety access, the town is donating an adjacent one-acre parcel to the site. Norway Savings Bank will provide permanent financing through an AHP subsidized advance and will make a Low Income Housing Tax Credit equity investment.

Location: ​Orland
Member: Bangor Savings Bank
Sponsor: Homeworkers Organized for More Employment (HOME)
Affordable Units: 6 rental units
Subsidy: $390,000 grant

Consisting of six units in three duplexes, Harding Family Homes is designed for extremely low-income families leaving shelter earning at or below 30% AMI. The development features ADA-compliant, cost-effective modular design with energy-efficient elements. The project will also feature partnerships with local technical high schools. The initiative aims to provide rapid, stable rehousing for vulnerable families. Two of the three duplexes will be designed with two-bedroom units, and one duplex will feature three-bedroom units. Bangor Savings Bank will provide construction financing

Location: Portland
Member: Bath Savings Institution
Sponsor: Portland Housing Authority, Portland Housing Development Corporation
Affordable Units: 40 rental units
​Subsidy: $1,194,897 grant and subsidy, $1.2 million loan

Cumberland Housing is the first half of a twin-structured affordable housing initiative to create 91 age-restricted mixed-income apartments for residents aged 55 and older in a seven-story building. The combined initiative will replace obsolete public housing and clean up a brownfield site. Cumberland Housing will include 50 units, 44 studios and six one-bedroom units, as well as a large community room and shared green space. Thirty apartments will be reserved for individuals earning up to 50% AMI, 10 units for 60% AMI, and the remaining 10 units will be market rate. The new construction is designed to meet Zero Energy Ready Home standards and will include significant improvements to the streetscape, sidewalks, new tree plantings, and accessible walkways. This development, along with the paired development, is part of the comprehensive redevelopment of the COMB Block by the Portland Housing Authority. Bath Savings Institution will provide a construction loan and tax credit equity.

Location: Portland
Member: Norway Savings Bank
Sponsor: Portland Housing Authority, Portland Housing Development Corporation
Affordable Units: 27 rental units
​Subsidy: $1,197,009 grant and subsidy, $12 million loan

Mayo Housing will replace two obsolete public housing buildings with 27 newly constructed rental apartments in a three-story building. Seventeen units are targeted at 50% AMI, 10 units will be targeted at 60% AMI, and seven units will be reserved for homeless households. The project will consist of 19 two-bedroom units and 8 three-bedroom units. Site improvements include sidewalk and streetscape improvements, tree planting, and repaving. The building will include highly efficient mechanical systems and building envelope designed to meet Zero Energy Ready Home Standards. Homebuyer education and after school programs will be available to residents. Norway Savings Bank will provide construction financing and the permanent loan through an AHP subsidized advance.

Location: Portland
Member: Maine Community Bank
Sponsor: ProsperityME, Developers Collaborative
Affordable Units: 50 rental units
Subsidy: $850,000 grant

Prosperity Place will create 50 newly constructed family housing units, including 47 units affordable to households at or below 60% AMI and three at or below 80% AMI. Fifteen of the units are set aside for households experiencing homelessness. The development is adjacent to green space and a bus stop and was selected through a city Request for Proposal process. The project, which includes a parking lot, is also oriented toward a transit corridor. Prosperity Place benefits from a long-term ground lease with the city at minimal cost and strong community support, providing much-needed affordable and family housing for homeless. Maine Community Bank will provide construction financing.

Location: Saco
Member: Bangor Savings Bank
Sponsor: Quality Housing Coalition
Affordable Units: 7 rental units
Subsidy: $455,000 grant

School Street Apartments will transform a historic church into seven affordable units. The three-story wood-frame building will be renovated for ADA compliance, kitchen and bath upgrades, foundation improvements, fire suppression, and insulation. The former worship area will become a flexible community room. The project will include two units for households earning at or below 30% AMI and five for those between 61% and 80% AMI. The project qualifies for Historic Preservation Tax Credits and includes accessible spaces and a set-aside for city employees. Bangor Savings Bank will provide construction financing and a bridge loan.

Location: Scarborough
Member: Maine Community Bank
Sponsor: South Portland Housing Development Corporation, South Portland Housing Authority
Affordable Units: 43 rental units
Subsidy: $1,199,116 grant and subsidy, $1.2 million loan

Stratton Court will be a newly constructed, age-restricted community for residents aged 55 and older. All 43 one-bedroom apartments will be subsidized and rent restricted, each exceeding ADA requirements. The initiative aims to provide much-needed affordable senior housing while promoting walkability and community engagement. Twenty-six units will serve individuals up to 50% AMI, and the remaining 17 units will be for those earning up to 60% AMI. This three-story building will feature high efficiency mechanical systems and include rooftop solar. Maine Community Bank will provide construction financing and the permanent mortgage through an AHP subsidized advance.

Location: Waldoboro
Member: Bangor Savings Bank
Sponsor: Volunteers of America, Northern New England, Inc.
Affordable Units: 36 rental units
Subsidy: $850,000 grant

Meeting House Hill Apartments will demolish an obsolete, unusable former school and develop a new three-story affordable residence with 36 one-bedroom apartments for adults aged 62 and older. All 36 apartments will be ADA-accessible and affordable for households below 50% AMI. The property is located near the public library, downtown amenities, parks, and medical services. The project incorporates extensive community input into its design. Volunteers of America Northern New England will provide a range of supportive services, including onsite primary health care, to facilitate aging in place. Bangor Savings Bank will provide construction financing.

Location: Waterville
Member: First National Bank
Sponsor: Waterville Community Land Trust
Affordable Units: 2 homeownership units
Subsidy: $119,360 grant

Waterville Community Land Trust’s Duplex Condo 3 Carrean initiative will rehabilitate two homeownership condominiums. Originally built as a single-family home in 1895, the property was converted to a duplex in 1930. This initiative will include a two-bedroom unit and a three-bedroom unit targeted at 80% AMI, with each unit having its own entrance. The scope will follow AARP’s HOMEFIT specifications to accommodate the potential for buyers to age in place. The homebuyers will be part of an homeowners’ association to pay for required maintenance, and homebuyer education and financial planning will be available. First National Bank will provide a construction line of credit.

Location: ​Acton
Member: All One Credit Union
Sponsor: Habitat for Humanity North Central Massachusetts, Inc.
Affordable Units: 3 homeownership units
Subsidy: $90,000 grant

Habitat for Humanity North Central Massachusetts will acquire and redevelop a former restaurant into three homeownership condominiums. The farmhouse-style structure will include ground-floor commercial space, which will be used as Habitat’s new office. The location is central to the town’s shops and restaurants. There will be two one-bedroom units and one two-bedroom unit. Two units will be affordable at 60% AMI and one unit will be affordable at 50% AMI. A planned second phase will add an additional three-bedroom unit in an existing detached barn. The sponsor will lead construction and engage the local trade school and other volunteers for labor. The units will help address Acton’s affordable housing shortfall, which is currently under the state-mandated 10%. All One Credit Union is providing a line of credit for the project.

Location: Athol
Member: The Bank of Canton
Sponsor: Fairview Housing Partners, EJR Health LLC, 11 CTL LLC
Affordable Units: 53 rental units
Subsidy: $850,000 grant

Fairview Housing Partners will preserve 53 rental units for seniors through the historic renovation of the former Pequoig Hotel, a four-story Classic Revival building built in 1894 that is listed on the National Park Service Register of Historic Places. Existing debt on the community will be refinanced as part of this initiative. The building consists of four two-bedroom units, 49 one-bedroom units, and two commercial units. One commercial unit will be converted into community space. All residential units are subsidized by Section 8 and are affordable at 50% AMI. Five units are designated for residents with disabilities. The rehabilitation focuses on window and door replacement, ADA upgrades, energy efficient improvements, and interior modernization. The Bank of Canton will provide permanent financing for the project.

Location: ​Boston
Member: Eastern Bank
Sponsor: Bridge Over Troubled Waters
Affordable Units: 64 rental units
Subsidy: $850,000 grant

A vacant five-story commercial building downtown will be repurposed into a multipurpose facility serving homeless, runaway, and at-risk youth as part of Bridge Over Troubled Waters’ 25 Bridge Street Initiative. The building will feature 44 single-room occupancy units and a welcome center with 20 shelter beds with all units for residents at or below 30% AMI. The project will support transitional and permanent supportive housing and will include amenities such as laundry and a fitness room. The renovation includes the addition of a new elevator, replacement of the roof and windows, masonry repairs, and upgrades to HVAC and mechanical systems. The initiative is designed to provide a safe, supportive environment for vulnerable youth, with a focus on efficient, cost-effective renovation and comprehensive support services. The project addresses a critical need for youth housing and support in the city. Eastern Bank will provide construction financing.

Location: Boston
Member: Eastern Bank
Sponsor: Planning Office for Urban Affairs, Inc., Roxbury Stone House, Inc.
Affordable Units: 13 rental units
Subsidy: $500,000 grant

7-9 Westminster Terrace is a newly constructed 13-unit development offering emergency shelter and permanent supportive housing for survivors of domestic violence. Designed to accommodate households earning at least 30% AMI, the three-story building features 11 studio apartments and two two-bedroom units, along with an elevator, laundry facilities, and a service manager’s office. Situated adjacent to an established supportive facility on city-owned land, the project is built to Passive House standards. This initiative specifically addresses the needs of a historically underserved community, benefiting from robust local support, a contract with the Department of Public Health for shelter services, and enhanced Massachusetts Rental Voucher Program provisions for permanent housing. Permanent financing will be provided by Eastern Bank and a 501(c)(3) bond, preserving Low-Income Housing Tax Credits.

Location: ​Boston (Jamaica Plain)
Member: Eastern Bank
Sponsor: Victory Programs, Inc.
Affordable Units: 41 rental units
Subsidy: $850,000 grant

​A former five-story hotel in Boston’s Jamaica Plain neighborhood that is currently being used as a low-threshold emergency shelter will be converted to 41 permanent supportive housing units for individuals at 30% AMI as part Visions of Victory’s initiative. The project will serve homeless individuals with substance use and/or mental health conditions. The scope of work covers HVAC replacement, building envelope improvements, elevator upgrades, and energy efficiency measures. Fully electric kitchenettes will be added to each unit. Security and digital connectivity will be upgraded and high-speed internet will be provided throughout the building. Eastern Bank will provide construction financing.

Location: Boston
Member: Eastern Bank
Sponsor: The Commonwealth Land Trust, Inc.
Affordable Units: 16 rental units
Subsidy: $978,796 grant and subsidy, $980,000 loan

The Commonwealth Land Trust, Inc’s 250 Seaver Street initiative will rehabilitate and convert a three-story residential building into 16 single-room occupancy units with supportive services, while bringing the property up to current standards and ensuring accessibility and fire safety. Ten units will be affordable to individuals at or below 30% AMI and six units will be affordable to individuals at or below 50% AMI. The project will leverage 16 rental vouchers for operational stability and affordability. The building will feature amenities such as a shared kitchen, lounge, laundry services, and parking. Eastern Bank will provide construction and permanent financing.

Location: Brewster
Member: Cape Cod Five Cents Savings Bank
Sponsor: Habitat for Humanity of Cape Cod, Inc.
Affordable Units: 2 homeownership units
Subsidy: $180,000 grant

Habitat for Humanity of Cape Cod will build two affordable homes for first-time homebuyers earning 60% and 80% AMI. The ranch homes will include full basements and two parking spaces per home and will be constructed with high insulation and Energy Star appliances. The solar ready homes will be positioned on the site to allow for optimal solar panel placement. This project is in collaboration with the Brewster Conservation Trust to conserve wetlands and woodlands in the Washington Chase Bog, while also providing affordable housing. These homes will be affordable in perpetuity. Cape Cod Five Cents Savings Bank will provide construction financing.

Location: Erving
Member: Greenfield Savings Bank
Sponsor: Rural Development, Inc.
Affordable Units: 26 rental units
Subsidy: $1,197,009 grant and subsidy, $1.2 million loan

Rural Development, Inc.’s Evergreen Circle initiative will create 26 affordable senior and multigenerational units in three Passive House and Enterprise Green-certified buildings constructed on municipally donated land and developed in partnership with the town. The site is strategically positioned on a cul-de-sac adjacent to key community amenities, including the Erving Senior and Community Center, public library, and elementary school. The development features 18 senior units housed in a single-story building with the management office, community room, and laundry facilities. Of these, eight units are designated for extremely low-income seniors. The remaining eight two- and three-bedroom multigenerational townhomes will be thoughtfully arranged within two smaller buildings to minimize disruption to the site. The project’s design emphasizes sustainability, adaptability, and resilience and incorporates solar panels, backup power, and storm-water management solutions. Greenfield Savings Bank will provide construction financing and a permanent loan supported by an AHP subsidized advance.

Location: Fitchburg
Member: Rockland Trust Company
Sponsor: Making Opportunity Count, Inc.
Affordable Units: 42 rental units
Subsidy: $850,000 grant

Fairmount Street Projects will create 42 affordable rental apartments built across two sites, approximately one block apart and within one block of the sponsor’s youth innovation center. The first site will include 35 units in a five-story building with an elevator, community room, and parking. The second site will include the demolition of a fire damaged structure and consist of seven units in a four-story building. Both buildings will be built to Enterprise Green standards and prioritize extremely low-income and homeless households. A minimum of five units will be accessible and designed for visually and hearing-impaired residents. Rockland Trust Company is providing permanent financing for the project.

Location: Greenfield
Member: Greenfield Co-Operative Bank
Sponsor: Pioneer Valley Habitat for Humanity, Inc.
Affordable Units: 1 homeownership unit
Subsidy: $75,000 grant

Pioneer Valley Habitat for Humanity’s Birch Street Greenfield initiative will replace a blighted structure with a new two-bedroom, energy-efficient single-family home for a family earning up to 60% AMI. Featuring a single-story design that is wheelchair accessible or adaptable, the home will include a deed restriction to ensure long-term affordability. The home will comply with Energy Star/Passive House standards. Greenfield Co-Operative Bank will provide construction financing and a $10,000 grant.

Location: Greenfield
Member: Greenfield Savings Bank
Sponsor: Greenfield Housing Associates, Inc.
Affordable Units: 55 rental units
Subsidy: $200,000 grant

The Winslow PSH Preservation project will redevelop 55 existing housing units with comprehensive onsite support services, targeting individuals who are homeless or at risk of homelessness. The property is occupied and consists of 54 efficiencies and one one-bedroom unit in two joined buildings, with an average unit size of 270 square feet. The 12-month rehabilitation will focus on improving accessibility and energy efficiency and be undertaken with the residents in place. The effort includes ADA-compliant ramping, elevator upgrades, energy efficiency improvements, decarbonization, and modernization of building systems. Four units will be made wheelchair accessible and another four will be equipped for sensory-impaired residents. All unit rents will include utilities and cooking fuel, serving households earning between 30% to 60% AMI. Eleven units will be reserved for homeless households. Greenfield Savings Bank will provide construction and permanent financing.

Location: Haverhill
Member: Institution for Savings in Newburyport and its Vicinity
Sponsor: Essex County Habitat for Humanity
Affordable Units: 7 homeownership units
Subsidy: $420,000 grant

Essex County Habitat for Humanity will rehabilitate a historic Victorian home into three separate condos and construct two new duplexes on the property to create seven affordable homes for low-income, first-time homebuyers. All units will be permanently deed-restricted and feature modern mechanicals, fire suppression systems, and energy-efficient upgrades, while preserving mature trees on the site. The family selection process emphasizes economically disadvantaged and single-parent households, with all families required to contribute sweat equity and complete homebuyer education. The location offers excellent access to public transit, schools, grocery stores, and workforce agencies, supporting residents’ long-term success. This initiative addresses a significant need for affordable homeownership in the region and is supported by strong community and agency partnerships. Institution for Savings in Newburyport and its Vicinity will provide construction and mortgage financing.

Location: Housatonic (Great Barrington)
Member: Adams Community Bank
Sponsor: Central Berkshire Habitat for Humanity
Affordable Units: 7 homeownership units
Subsidy: $630,000 grant

Central Berkshire Habitat for Humanity’s Prosperity Way Stage Two initiative is an innovative affordable homeownership development featuring 20 single-family homes built in three stages. This second stage will fund seven homes for households earning 60% AMI and three earning 80% AMI. The homes are solar-oriented, energy efficient, and mostly modular, with adaptable and versatile layouts to accommodate diverse family needs. The project is supported by the Great Barrington Affordable Housing Trust, a MassWorks grant for infrastructure, and local builder donations. Adams Community Bank will provide construction financing and a revolving line of credit.

Location: Littleton
Member: All One Credit Union
Sponsor: Habitat for Humanity North Central Massachusetts, Inc.
Affordable Units: 2 homeownership units
Subsidy: $70,000 grant

Habitat for Humanity North Central Massachusetts will develop two new homeownership units designated for families earning up to 60% AMI. Both units will be permanently deed-restricted. Each new home will be designed for energy efficiency and include solar panels, heat pump systems, and electronic vehicle charging. This will be the first Habitat build in Littleton since 2001, and construction will include a partnership with Nashoba Valley Technical High School. All One Credit Union will be providing a construction line of credit.

Location: Lowell
Member: Eastern Bank
Sponsor: Common Ground Development Corporation
Affordable Units: 37 rental units
Subsidy: $500,000 grant

Broadway Supportive Housing II will develop a new four-story building with 37 studio apartments, each affordable to households earning 30% AMI, on a lot partially donated by the city. These service-enriched housing units will be reserved for households experiencing housing insecurity or at risk of homelessness. In addition to the apartments, the building will include a flex-use community room, office and program space, shared laundry facilities, and shared outdoor space. Exterior finishes will be selected for durability and consistency with the surrounding buildings. Green building standards will be incorporated to promote long-term efficiency and environmental performance. Eastern Bank to provide permanent financing.

Location: Natick
Member: Eastern Bank
Sponsor: Metro West Collaborative Development, Inc.
Affordable Units: 32 rental units
Subsidy: $1,198,198 grant and subsidy, $3,440,883 loan

Through the adaptive reuse of the historic Eliot School and new construction, Metro West Collaborative Development, Inc. will create 32 affordable rental apartments. A mix of one-, two-, and three-bedroom units will be spread across two buildings. The Eliot School building will be converted into nine apartments plus a community room, bicycle storage, and management space. Additionally, 23 new units will be built behind the existing school. The new building will be ADA accessible with Passive House certification. Sixteen units will be affordable at 30% AMI, four units will be affordable at 50% AMI, and 12 units will be affordable at 60% AMI. The site marks the transition between Natick’s commercial and residential areas and is within a quarter mile of shops, a library, parks, municipal services, and bus routes. Eastern Bank is providing construction and permanent financing to the project.

Location: Needham
Member: Citizens Bank
Sponsor: Affordable Housing and Services Collaborative, Inc., Peabody Housing LLC
Affordable Units: 76 rental units
Subsidy: $850,000 grant

Linden Terrace Phase One A LLC will create 76 affordable senior rental housing units, with 50 designated for extremely low-income households that will replace distressed public housing. The remaining 26 units will serve households earning below 60% AMI. This initiative is structured as a Rental Assistance Demonstration (RAD) conversion that replaces 40 outdated public housing units with a new accessible, sustainable building that includes supportive services to enable seniors to age in place. During construction, existing residents will be temporarily relocated and have the right to return to their new homes upon project completion. This is the first stage of a two-phase effort that will ultimately deliver 136 senior housing units, aligning with the town’s affordable housing objectives and designed to generate lasting community benefits. Citizens Bank will provide construction financing and purchase both the state and federal tax credits.

Location: Northampton
Member: Greenfield Savings Bank
Sponsor: Valley Community Development Corporation
Affordable Units: 30 rental units
Subsidy: $850,000 grant

Valley Community Development Corporation’s 27 Crafts Ave initiative will construct a six-story, 30-unit affordable housing development focused on homeless individuals and low-wage workers. All permanent supportive housing units are studios, with 20 reserved for households earning up to 30% area median income who have project-based subsidies, and the remaining units for households earning 60% AMI. The Passive House-certified building features an elevator, ground-floor offices, community room, bike storage, and a roof deck. The urban infill site is on city-donated land that is steep and complex. Five units are for residents with mobility issues and three units are for individuals with mental health issues. The project exemplifies Northampton’s commitment to sustainability and supportive housing. Greenfield Savings Bank will provide construction financing.

Location: Oak Bluffs
Member: Rockland Trust Company
Sponsor: Island Housing Trust Corporation
Affordable Units: 12 rental units
Subsidy: $800,000 grant

Bellevue Veterans Community will create 12 rental units on land leased from the town. The development will consist of three, two-story buildings and veterans will be given a preference for vacancies. Three units will be affordable to residents earning up to 30% AMI, three units at 50% AMI, three units at 60% AMI, and three units at up to 80% AMI. Three units will be set aside for homeless individuals or families, and the project will be Energy Star certified. One of the six ground-floor units will be fully accessible, with the other five units constructed to be adaptable. The Veterans Resource Center will occupy a walkout basement of one of the buildings and all buildings will face a small common green and patio space. Rockland Trust Company will provide construction and permanent financing in addition to a $100,000 grant.

Location: Pittsfield
Member: Pittsfield Co-Operative Bank
Sponsor: Berkshire County Arc, Inc.
Affordable Units: 4 rental units
Subsidy: $250,000 grant

BC Arc VIII Shaker Lane is a preservation project in Western Massachusetts aimed at replacing four obsolete affordable housing units for disabled adults, each below 50% AMI. The new housing will be a single-level wood-frame building on a 3.9-acre lot, designed to be fully wheelchair accessible and meet passive solar and state efficiency standards. The project includes full electric utilities, a solar installation, and a propane backup generator to ensure sustainability and resilience. All spaces, including bathrooms, kitchen, and living areas, are designed for individuals with disabilities. Despite high construction costs driven by market conditions, the project is part of a broader regional effort to create permanent, accessible housing for disabled adults. Pittsfield Co-Operative Bank will provide construction and permanent financing.

Location: Wenham
Member: Institution for Savings in Newburyport and its Vicinity
Sponsor: Essex County Habitat for Humanity
Affordable Units: 2 homeownership units
Subsidy: $180,000 grant

The Essex County Habitat for Humanity Homeowner Initiative involves building two permanently affordable homes in a duplex. Each unit will be approximately 1,300 square feet, with three bedrooms, attic storage, electric pump heating, and two parking spaces. The project maximizes housing density by providing two homes on a footprint that could otherwise accommodate only one larger house, supporting more families in need. The homes are designed to be sustainable and efficient, integrating seamlessly into the surrounding modern condominium community. This initiative addresses the need for affordable homeownership and demonstrates commitment to community integration and efficient land use. Institution for Savings in Newburyport and its Vicinity will provide mortgages to the homebuyers.

Location: Winchendon
Member: Fidelity Co-Operative Bank
Sponsor: Montachusett Veterans Outreach Center, Incorporated
Affordable Units: 44 rental units
Subsidy: $891,712 grant and subsidy, $500,000 loan

Montachusett Veterans Outreach Center will redevelop Poland and Streeter Schools to create 44 one-bedroom units of affordable, supportive veterans housing. The two historically significant buildings will be connected by a substantial new addition that will house 20 of the 44 units. The apartments will range in size from 470 to 690 square feet. Sixteen will be reserved for extremely low-income individuals. The remaining 28 units will target households earning below 60% AMI. The completed project will be designed for aging-in-place and includes four ADA accessible units. The facility will also include a courtyard, office, and programming space. Fidelity Co-Operative will provide the permanent financing. Low Income Housing Tax Credits and other state subsidies complete the financing.

Location: Worcester
Member: Massachusetts Housing Investment Corporation
Sponsor: Colony Retirement Homes, Inc., Affirmative Investments
Affordable Units: 45 rental units
Subsidy: $850,000 grant

Colony on Grove is the first phase of the planned four-phase redevelopment of the Colony Retirement Homes campus. The project will create 45 affordable senior one-bedroom units in a Passive House certified building. The four-story structure will be fully accessible and served by an elevator, replacing 25 obsolete units as part of a larger plan to ultimately provide 220 new units across the campus. The project includes the demolition of existing buildings, new construction, and the creation of a central “spine” amenity corridor connecting all phases. Residents will benefit from onsite and referral services, with a strong emphasis on accessibility, sustainability, and senior well-being. All units are affordable to households earning 30 to 60% AMI, and the phased approach ensures a smooth transition for current and future residents. Massachusetts Housing Investment Corporation will be purchasing tax credits.

Location: Worcester
Member: Beacon Bank & Trust
Sponsor: Habitat for Humanity – Metrowest/Greater Worcester Inc.
Affordable Units: 2 homeownership units
Subsidy: $133,000 grant

This initiative consists of two new single-family homes for first-time, low-income homebuyers. Each two-story Colonial residence encompasses approximately 1,560 square feet and offers three to four bedrooms, two bathrooms, and unfinished basements. The homes will be built to Energy Star standards and incorporate advanced green building practices to promote environmental sustainability. Both homes are fully ADA accessible, featuring zero-step entries plus accessible kitchens and bathrooms to accommodate residents with disabilities. These homes are designed to achieve a low Home Energy Rating System (HERS) score, combining both long-term affordability and energy efficiency. Beacon Bank & Trust will provide construction financing.

Location: Kingston
Member: Newburyport Five Cents Savings Bank
Sponsor: Housing Support, Inc.
Affordable Units: 6 rental units
Subsidy: $178,892 grant and subsidy, $200,000 loan

The Kingston Veterans Residence will transform a historic 1850 duplex into a six-unit, enhanced single-room occupancy facility for formerly homeless veterans. Three units will be affordable for households earning under 30% AMI, two at 50% AMI, and one at 80% AMI. Each unit will have a private bath and two will be fully accessible. The property features a barn which will be converted into residential communal space for recreation, workshops, and substance abuse meetings. The renovation entails updating mechanical systems, plumbing, roofing, kitchens, bathrooms, and accessibility, including a lift for the two accessible units. Housing Support, Inc. has worked through complex historic district commission review and secured zoning approvals, creating a possible model for other rural communities to support more housing initiatives. Veterans Affairs Supportive Housing (HUD-VASH) operating subsidies combined with VA residential services will further support homeless veterans. Newburyport Five Cents Bank will provide permanent financing through an AHP subsidized advance and construction loan financing.

Location: Providence
Member: Centreville Bank
Sponsor: Crossroads Rhode Island
Affordable Units: 97 rental units
Subsidy: $850,000 grant

An obsolete 176-unit single-room occupancy building will be renovated and converted into 97 studio and one-bedroom apartments at part of the 160 Broad Street Apartments initiative. All units are designated for homeless or at-risk adults earning at or below 30% AMI. The nine-story building will have sprinklers and upgraded to comply with current energy codes, featuring new windows, insulation, HVAC systems, lighting, and universal design elements. This transit-oriented development includes all utilities in the rent and integrates green building and healthy homes practices, as well as Crime Prevention Through Environmental Design (CPTED) security measures. Existing residents will be permanently relocated to Summer Street Apartments (A20211-022). Centerville Bank will invest in the tax-exempt bonds used to finance the project.

Location: West Warwick
Member: Citizens Bank
Sponsor: Women’s Development Corporation
Affordable Units: 61 rental units
Subsidy: $850,000 grant

183 Washington/Preservation is a combination of an adaptive reuse of a former furniture store into 30 affordable apartments in West Warwick’s Arctic Village neighborhood and the rehabilitation of 31 scattered site apartments in eight buildings in Warwick, Providence, and Pawtucket. The project will reserve 18 units as permanent supportive housing for the homeless. The reuse portion of the project will feature a mix of studios and one-bedroom units for households earning less than 30% AMI, including 15 units reserved for homeless. The exterior masonry will be restored to its 1920’s character as part of the renovation effort. Energy efficiency and livability for the residents will be achieved with rooftop solar, high efficiency mechanical systems, heat-efficient insulation, and centralized heating and cooling with controls in each unit. The project also includes 31 one-, two-, and three-bedroom units affordable for households earning up to 60% AMI, including three units reserved for homeless households. Rehabilitation of the scattered site buildings includes exterior and interior repairs and upgrades. Citizens Bank will provide construction financing.

Location: Brandon
Member: Bar Harbor Bank and Trust
Sponsor: Housing Trust of Rutland County, Inc.
Affordable Units: 29 rental units
Subsidy: $425,000 grant

The former Brandon Training School, a mid-century modern building, will be repurposed into 29 affordable apartments in a mixed-use campus known as Park Village as part of the Three 33 Jones initiative. The initiative will include two ADA-accessible units and three units reserved for people transitioning from homelessness. The scope includes new windows, HVAC, and roof replacement, and upon completion will offer a common area with shared kitchen, laundry, and storage. A conservation easement will protect the surrounding land. The project is fully affordable with a mix of income levels including three units serving under 30% AMI, 15 units under 50% AMI, three units up to 60% AMI, and eight units at or below 80% AMI. The project is fully permitted, will offer robust resident services, and has strong community support. Union Bank will purchase Low Income Housing Tax Credits.

Location: Brattleboro
Member: Citizens Bank
Sponsor: Evernorth, Inc, Windham & Windsor Housing Trust
Affordable Units: 31 rental units
Subsidy: $850,000 grant

Chalet Apartments will create 31 rental housing units as part of a planned multiphase initiative, with this phase featuring the construction of a new three-story building adjacent to a historic motel that is currently serving as emergency housing. Future phases will include demolition and additional construction. Twenty units will be affordable to households earning up to 50% AMI, four will be affordable at 60% AMI, and seven affordable at 80% AMI. Eight units will be permanent supportive housing set aside for homeless and at-risk households. The project’s design will mimic the historic motel’s low-sloped gable roof and also include laundry, storage space, bike parking, and a new parking lot. Office space for a nonprofit service provider and a community space are also included in the project. Citizens Bank will provide construction financing as well as invest in Low Income Housing Tax Credits.

Location: Grand Isle
Member: Union Bank
Sponsor: Evernorth, Inc., Cathedral Square Corporation
Affordable Units: 24 rental units
Subsidy: $850,000 grant

Faywood Road will redevelop the Round Barn Apartments into 24 of affordable one- and two-bedroom units for seniors and non-elderly disabled residents. Fifteen units will be set aside for households earning up to 50% AMI and the remaining nine units for those earning up to 60% AMI. The project includes a deep energy retrofit of an existing eight-unit building and new construction of an elevator-serviced, sixteen-unit building. The site will include a solar array, community gardens, walking trail, and a pavilion. Upon completion, the project will achieve the National Green Building Standard’s Gold Certification, earning a Net Zero badge between both buildings. Financing includes project-based subsidies from the U.S. Department of Housing and Urban Development, Efficiency Vermont, the Vermont Housing & Conservation Board. Union Bank with provide a construction loan and make an equity investment in the Low Income Housing Tax Credits.

Location: Newport
Member: Community National Bank
Sponsor: Gilman Housing Trust, Inc.
Affordable Units: 40 rental units
Subsidy: $850,000 grant

Newport Crossing, an initiative undertaken by Rural Edge, is the comprehensive redevelopment of three properties in Newport City and Newport Center to create 40 apartments for households earning less than 80% AMI. Twelve units will serve homeless households. The development, which reuses a former convent with a new four-level addition and creates two new residential buildings, will include a mix of one-, two- and three-bedroom apartments. The project includes brownfields remediation, asbestos removal, and complex site logistics, with a preference for local contractors and Section 3 employment. The cornerstone of both neighborhoods’ revitalization plans, this project has strong community backing and support from multiple state and federal sources. Community National Bank will provide an equity investment in the project’s Low Income Housing Tax Credits.

Location: Cleveland, Ohio
Member: Citizens Bank
Sponsor: CHN Housing Partners
Affordable Units: 62 rental units
Subsidy: $850,000 grant

Cleveland West Veterans Housing will create 62 one-bedroom permanent supportive housing units for homeless veterans in Cleveland’s Stockyards neighborhood. The three-story, 63,000-square-foot building will feature onsite management, a 24-hour front desk, community and exercise rooms, an outdoor patio, and be designed to LEED energy efficiency standards with universal design features. Eight units are fully accessible, and two are equipped for individuals with speech and hearing impairments. All apartments will be affordable for formerly homeless veterans earning between 30% to 60% AMI. The residents’ rents will be supported by Veterans Affairs Supportive Housing (HUD -VASH) rental assistance. Located near transit, amenities, and medical services, the initiative is a model for supportive housing for veterans with disabilities and complex needs. Citizens Bank will provide construction financing, as well as an equity investment in the project’s Low Income Housing Tax Credits.

*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.

Location: Philadelphia, Pennsylvania
Member: Citizens Bank
Sponsor: Drueding Center
Affordable Units: 26 rental units
Subsidy: $850,000 grant

The Drueding Center’s 413 W. Master Street initiative will feature the gut rehabilitation of a former temporary shelter to create 26 units for extremely low-income renters with 18 units for individuals at or below 30% AMII and eight units targeted to residents earning below 50% AMI. Drueding Center Residential will reserve 13 units for homeless residents. All units will be subsidized with housing vouchers from the Philadelphia Housing Authority. The project consists of 22 two-bedroom units and four three-bedroom units. Community spaces, including a community room, workshop classroom, and free laundry, will be refreshed. The project is close to retail stores, higher education institutions, and public transportation. Citizens Bank will provide construction financing.

*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.

Location: Philadelphia, Pennsylvania
Member: Citizens Bank
Sponsor: Philadelphia Chinatown Development Corporation
Affordable Units: 40 rental units
Subsidy: $650,000 grant

A vacant police district building in the city’s historic Chinatown neighborhood will be replaced with a six-story building with 40 affordable rentals constructed to Passive House standards as part of the Winter West Affordable initiative. The project offers a mix of one- to three-bedroom units, including six accessible units, and features a community room, laundry, offices, and 12 parking spaces. All units will be affordable to households earning between 30% and 80% AMI. The initiative emphasizes health and sustainability, with green building features and onsite health and social services. The project is unique for its large number of three-bedroom units, donated land, and strong support from the city and community. Winter West Affordable addresses gentrification pressures and supports the needs of Chinatown residents while aligning with broader city affordable housing goals. Citizens Bank will provide construction financing.

*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.