Eastern Bank is serving as lead lender for 775 Huntington Ave., a new mixed-income residential development located in the Mission Hill neighborhood of Boston. Sponsored by nonprofit Roxbury Tenants of Harvard (RTH), the project will create 55 mixed-income homeownership units, including 27 affordable homes and 28 market‑rate homes, and 57 affordable rental units within a new 13‑story building that also includes commercial space and structured parking. Eastern has provided a $68.6-million construction financing package supporting both the rental and homeownership components.
“775 Huntington Ave. brings together several distinct housing types in one coordinated development, requiring thoughtful structuring and close collaboration,” said Pam Feingold, SVP and group director of community development lending at Eastern Bank.
The community development lending team advising the 775 Huntington Ave. project was led by Feingold; SVP, community development Lending Team leader Yongmei Chen; and SVP, community development lending relationship manager Angela Meehan.
The post Eastern Bank Lends on Mixed-Income Development in Boston’s Mission Hill appeared first on Connect CRE.