Boston Private Provides Financing for Affordable Housing in Boston's Mission Hill Neighborhood
BOSTON, MA — January 20, 2017 — Boston Private, a leading provider of wealth management, trust and private banking services, today announced it has provided $20.8 million in financing for the construction of 40 units of affordable family housing, a new office headquarters for Metropolitan Boston Housing Partnership (MBHP) and four community-oriented retail storefronts at the Roxbury Crossing gateway to Boston’s Mission Hill Neighborhood.
“Boston Private is thrilled to be a part the revitalization of Roxbury Crossing,” said Torrance Childs, Co-President of the Private Banking Group at Boston Private. “We take great pride in our commitment to improving affordable housing in all the communities we serve across the country.”
The property, known as Parcel 25, was a vacant parcel of land formerly owned by the Massachusetts Bay Transportation Authority (MBTA) and is located across from the Roxbury Crossing MBTA Station. The Mission Hill Neighborhood Housing Services (MHNHS) plans to construct a five story, mixed use building that will provide much-need affordable housing along with community-focused commercial space on the first floor and a new home for MBHP on the second level.
Boston Private is a leading provider of fully integrated wealth management, trust and private banking services. For more than 25 years, Boston Private has taken a highly personalized approach to serving the complex financial needs of individuals, families, business owners, private partnerships, nonprofits and community partners. Boston Private is also an active provider of financing for affordable housing, first-time homebuyers, economic development, social services, community revitalization and small businesses.
Headquartered in Boston, Boston Private has 35 offices across the U.S. including Boston, San Francisco, San Jose, Los Angeles and Palm Beach. Private banking and trust services are provided through Boston Private Bank & Trust Company. Wealth management services are provided through Boston Private Wealth LLC, an SEC registered investment adviser and a wholly owned subsidiary of Boston Private Bank & Trust Company.
Boston Private Bank & Trust Company is a subsidiary of Boston Private Financial Holdings, Inc. (NASDAQ: BPFH). For more information, visit www.bostonprivate.com.