Affirmative Investments, Inc. reposted this
MassHousing is pleased to partner with Island Housing Trust to bring more affordable housing to Martha's Vineyard. https://lnkd.in/eJefnYNi
Affirmative Investments, Inc.
Real Estate
Boston, Massachusetts 129 followers
Mission-based finance & development firm focused on stimulating economic development and expanding affordable housing
About us
Affirmative Investments was founded in 1983 with foundation support and a vision to use investment vehicles to build the capacity and scale social impact work. From its founding Affirmative was ahead of its time by focusing on the social impact of financial investments long before "impact investing" was born. In its early years, Affirmative focused on helping organizations expand affordable housing opportunities across the United States. Since that time, we have facilitated the financing and development of nearly $850 million of affordable housing, representing over 6,000 units. In 2004 Affirmative expanded into the newly formed New Markets Tax Credits (NMTC) program. Through NMTCs we have utilized creative financial structuring that aligns with the priorities of multiple parties including service providers, Community Development Entities (CDEs), investors, and lenders. Affirmative has closed 90 NMTC deals totaling $2.1 billion in development costs, over $1 billion in Qualified Equity Investments, and over 4.7 billion square feet of NMTC-funded commercial space. Affirmative does work across the country and has completed projects in 12 states ranging from Rhode Island to California. Mission is central to Affirmative's corporate make-up. We partner with mission-driven organizations, contributing our real estate finance and development expertise, in order to expand housing opportunities, and deliver critical services in low-income communities. Our projects become critical community hubs and homes, so we are dedicated to building high quality teams to ensure project success. Active collaboration brings out the skills of each team member and builds capacity within client organizations. Our relationships with key industry players give our clients access to essential information. The ability to read political context, economic climate, and the technical aspects of each deal is central to helping our clients make quality decisions and realize their objectives.
- Industry
- Real Estate
- Company size
- 2-10 employees
- Headquarters
- Boston, Massachusetts
- Type
- Privately Held
- Founded
- 1983
Locations
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Primary
Get directions
Boston, Massachusetts 02108, US
Employees at Affirmative Investments, Inc.
Updates
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Affirmative Investments, Inc. reposted this
That’s a wrap, the 2024 Bisnow Affordable Housing Summit was a great success! Thank you PCA Principal and Moderator Laura Homich and superstar Panelists: John B. Cruz III, Cruz Companies; Nicholas Boehm, CFA, Related Beal; Tara (Murphy) Mizrahi, Affirmative Investments, Inc.; Matt Grosshandler, Bald Hill Builders, LLC.; and Brian Klaus, LSP, Roux for sharing your effective approaches and insights about preserving existing affordable housing and leveraging existing sites and building stock. ⭐Key takeaway⭐ (announced during the event!): MA Legislature enacted a $5.16 billion housing bond bill which includes $2 billion for the rehabilitation, repair and modernization for more than $40,000 public housing units and $800 million for affordable units across the state. There’s so much work to do! Join us as we continue to help provide access to affordable housing for everyone in MA. More about the Bill: tinyurl.com/3s7csc2s #PCA_team #PCA_affordablehousing
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Affirmative Investments, Inc. started work with Conservatory Lab Charter School almost 10 years ago to help it secure an acquisition loan for its lower school campus at 133 Hancock Street in Dorchester to provide music-infused education for 200 K - 3 public school students. Now, thanks to New Markets Tax Credits provided by Civic Builders and Capital One, and low-cost, long-term debt provided by Equitable Facilities Fund and HarborOne Bank, we helped CLCS secure the financing needed to expand and renovate their campus, bringing it up to the standard they set with the construction of their upper school in 2019, also made possible through NMTCs from Civic Builders. It's been a long road but the school now has a permanent home to support the musical, academic, and social growth of all of their students.
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Congratulations to Rosemary Gill, Nicole Merusi, and the rest of the team at Zeiterion Theatre for getting to a long awaited groundbreaking! It was a pleasure working with Will Mendonca and Tim Chaves at Bristol County Savings Bank who provided over $8 million of state and federal tax credit investment and bridge financing. We could not have worked with a better financing partner to help make this project a reality.
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So pleased to be breaking ground on our 5th housing partnership with Presbyterian SeniorCare Network - this time an LGBTQ+ friendly senior facility in Oakland (Pittsburgh). Thank you to all of our supporters in this effort. UPMC, University of Pittsburgh, National Equity Fund, Inc., Housing Authority of the City of Pittsburgh, Urban Redevelopment Authority of Pittsburgh, Huntington National Bank, Pennsylvania Housing Finance Agency , City of Pittsburgh, Mistick Construction, Rothschild Doyno Collaborative
Today, Presbyterian SeniorCare Network and Affirmative Investments, Inc. broke ground on Mosaic Apartments, a 48-unit affordable housing apartment building in Oakland that will be friendly for LGBTQ+ seniors. It’s scheduled to open in fall 2025 and will be the first of its kind in western Pennsylvania and second in our state. “Our Network has a decades-long history of awareness of and support for person-centered care and services for seniors,” said Jim Pieffer, President and CEO of Presbyterian SeniorCare Network. “It is consistent with our mission to serve underserved seniors who need our care and support. It will be an honor to serve this special population of older adults who have been deeply discriminated against over the years.” More than $28 million has been raised for the project. The project received major support from nine funding sources, including $4 million in low-income housing tax credits from Pennsylvania in 2022. Donations of land from UPMC, followed by University of Pittsburgh and then nearby Dialysis Clinic, Inc., were crucial early steps that made the project possible. Speakers included State Senator Jay Costa; Maria Montaño, communications director for Pittsburgh Mayor Ed Gainey; William J. Bates, board chair of Presbyterian SeniorCare Network; David Ennis, president of Affirmative Investments; Susie Shipley, regional president of The Huntington National Bank; David DiBernardo, residential lending analyst with the Urban Redevelopment Authority of Pittsburgh; Martin J. Healey, CEO of Persad Center; Lina Dostilio, vice chancellor of engagement & community affairs, University of Pittsburgh; and Deborah Brodine, president of UPMC Western Psychiatric Hospital & UPMC Senior Services. Rev. John Creasy of The Open Door Presbyterian Church gave the invocation and benediction. Applications for residency will be available in approximately March 2025 — about six months before the building opens. In the meantime, the Network encourages interested potential residents to join its inquiry list by sending an email to LGBTQ+friendly@srcare.org.
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Affirmative Investments, Inc. reposted this
Congratulations to Maria A. Rosario and NorthStar Learning Centers for getting to a groundbreaking on their Early Education Academy. A big thanks to Sarah Kitterman and Michelle Volpe at The Property & Casualty Initiative, Deb Favreau at MHIC, Mark Preston and his team at Capital One, Tara Agrawal and Dr. Shari Nethersole at Boston Children's Hospital, and Mayor Jon Mitchell at the City of New Bedford. Another project made possible with New Markets Tax Credits. #nmtc #communitydevelopment
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