On June 14, we celebrated the groundbreaking for a mixed-income community, North Square at The Mill District, in Amherst, Massachusetts. BCC loaned $3.5 million to help finance this nearly $50 million mixed-use, sustainably designed community. The project is designed to revitalize North Amherst by providing much-needed affordable housing, jobs, and a transit-friendly central location connecting to downtown Amherst and the UMass Amherst campus. The first building is set to open in summer 2019.
“This dynamic project will bring 26 affordable rental units to Amherst,” BCLF Loan Officer Sarah Kitterman said. “We were able to use our Capital Magnet Funds to structure a flexible, creative loan that filled a crucial gap in financing for the project.”