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Rockland Trust funds Quincy affordable housing project with $7.4 million
The 24-unit Quincy Street Apartments development will use Low-Income Housing Tax Credits and support from a tax credit syndicator, Stratford Capital.
Rockland Trust is providing a $7.4 million financing package to Father Bill’s & MainSpring (FBMS) for the development of a new 24-unit affordable housing community at 150-156 Quincy St. in Quincy, Massachusetts, according to ConnectCRE.
The Quincy Street Apartments project will convert the site into a multifamily residential community aimed at expanding access to housing in a region facing housing affordability challenges.
ConnectCRE reports the development will use Low-Income Housing Tax Credits and other public and private funding sources to support long-term affordability, with Stratford Capital serving as the tax credit syndicator and providing additional equity investment to back the project.