In collaboration with TD, M&T Bank, BlueHub Capital, and the National Community Investment Fund, New Markets Tax Credit financing will help the Community Music Center of Boston renovate a historic building in Roxbury into a hub for music education, workforce development and mental health services.
Community Music Center of Boston (CMCB), an arts education nonprofit founded in 1910, today announces $22 million in New Markets Tax Credit (NMTC) investments to support the renovation of a historic building in Boston’s Roxbury neighborhood into the organization’s new headquarters. The investment brings a net benefit of $5 million to the project, supplementing state and federal historic tax credits, over $10 million in philanthropy, and lending from both NCIF and M&T Bank.
TD acted as the NMTC and historic tax credit investor by providing tax equity of more than $11 million to CMCB, along with $7 million of NMTC allocation from its wholly owned subsidiary, TD Community Development Corporation. The National Community Investment Fund (NCIF) provided $5 million of NMTC allocation, in addition to acting as a long-term lender to CMCB. BlueHub Capital, a national nonprofit community development finance organization based in Roxbury, provided $10 million in NMTC allocation to help close the transaction’s second tranche. M&T Bank acted as a bridge lender for the capital campaign and historic tax credit, and Classic Lake, a community and economic development firm, helped coordinate and advise the deal structure.
A Fully Owned and Operated Cultural Facility at 2164 Washington St in Roxbury
The project is a gut renovation of the historic Nubian Gallery (aka Brunswick Bowling Alleys building), originally constructed in 1926, transforming it into a flagship facility dedicated to music education, youth workforce development and Music Therapy programming. CMCB is honored to join the historic Roxbury Cultural District, with its vibrant history of decades of community building and local investment.
For more than a century, the Community Music Center of Boston has provided accessible music education and performance opportunities to students across the city. The project is part of a $22 million total NMTC allocation supporting the renovation of the 13,528-square-foot building into a three-story community arts center in Nubian Square. CMCB’s new headquarters is located in a census tract where unemployment is nearly double the national average and income is less than one fifth of the area median income. By locating in this area, the project will significantly expand access to arts education and supportive services for Boston residents, particularly youth and families in Roxbury, Dorchester and Mattapan, where there has been a historic disinvestment in such services.
In addition to traditional music lessons and classes, CMCB offers specialized Music Therapy services, providing clinical support for emotional, cognitive, and social well-being, through structured engagement with a board-certified practitioner. CMCB also has a nationally recognized Youth Development Program that pays youth $18+/hr and provides arts sector workforce training, mentorship, and college/career readiness.
Community Benefits
Once completed, the new facility will include 18 music studios, a recording studio, digital piano lab, percussion room and a 120-seat performance hall, along with dedicated spaces for workforce development programming and community events. The building will also include administrative offices and gathering spaces designed to support partnerships with schools, community organizations and local institutions.
Each week, over 2,500 individuals participate in CMCB lessons and classes. The new facility will grow CMCB’s capacity by at least 50%, enabling participation by over 7,000 students and patrons annually.
“We are grateful for this partnership with TD, M&T Bank, BlueHub Capital, and NCIF. While this building may be new to us, Roxbury is not: thousands of students in the neighborhood have participated in our lessons, classes, and Music Therapy over the years. We have been part of Roxbury’s past and present and are excited to solidify our presence as part of Nubian Square’s historic arts and culture district with this new headquarters,” said Lecolion Washington, CEO of CMCB.
This investment will retain 35 full-time positions, create 12 permanent jobs, and support approximately 75 construction jobs. CMCB is working with Commodore Builders and HJ Russell, alongside SMMA Architects and Janet Stegman.
“Access to arts education can have a lasting impact on a young person’s confidence, growth and sense of belonging. The Community Music Center of Boston has been delivering that impact for more than a century, and this new Roxbury space will allow them to reach even more students and families. We’re proud that TD could help support this investment, strengthening a vital community resource and helping create new opportunities through the power of music," said Sheryl McQuade, Regional President, Metro New England, TD Bank U.S.
CMCB’s youth employment program will be able to expand particularly significantly. The program allows youth to supplement music lessons with good paying jobs throughout the organization, connecting theory and practice for employability skills in the arts sector and beyond. These early-career leaders are majority BPS students or alums, and approximately 85% are youth of color.
“I wish that a program like CMCB’s youth workforce training had been available to me when I was an early career performer and leader. Things I see our 17-year-olds mastering are things I had to learn on my own at 30, without the benefit of camaraderie and a supportive professional network. Students gain leadership and employability skills that help them succeed from the classroom to the boardroom and the stage to the corner office.” – Zach Sheets, Chief Advancement Officer, CMCB
The project also reflects BlueHub Capital’s long-standing commitment to Roxbury, where the organization has invested for more than four decades to support education, workforce development and community-centered spaces.
“Access to arts education and creative expression is an important part of building strong and connected communities,” said Elyse Cherry, CEO of BlueHub Capital. “The Community Music Center of Boston has served Boston families for generations, and this investment will help ensure that even more young people can benefit from its programs in the years ahead.”
The expansion will address space constraints and accessibility challenges at CMCB’s current South End location while helping the organization expand closer to the communities it supports in Roxbury, Dorchester and Mattapan.
This new Roxbury location, a few short blocks from the headquarters of the Boston Public Schools, will allow the organization to broaden programming and deepen partnerships with schools, community organizations, and health providers.
Community members and local leaders emphasized that the new facility will serve as a cultural hub for Roxbury and surrounding neighborhoods, improving access to arts education and creating new opportunities for youth development and community engagement.
“TD is proud to invest in the growth of Boston through music. New Markets Tax Credits help make projects like the Community Music Center of Boston possible, bringing critical investment into the neighborhood and expanding access to high-quality arts and education," said Will Richter, Senior Relationship Manager, TD Bank U.S. "Through this support, CMCB can create more space, programming and opportunity for students and families, strengthening the community through the power of music.”
“At Classic Lake, we believe our best work happens when clients are true partners in the process of engineering their capital stack. Working with the Community Music Center of Boston on their new Roxbury facility has been a vivid example of that belief in action. The CMCB team brought clarity of purpose, deep knowledge of their community, and a genuine openness to the financing that made our collaboration not just productive, but meaningful. As Managing Director of Classic Lake, I'm proud of what we have done together — we are not just financing construction but rather building a home for music education that reflects CMCBs extraordinary mission and the people it serves” - Jose Ometeotl, Managing Director, Classic Lake
“Nonprofits need a solid space to grow their operations and support underserved communities. CMCB represents exactly that - an outstanding example of rehabilitation and development. We are delighted to partner with them and TD on New Markets Tax Credit and debt.” –Saurabh Narain, President and CEO, National Community Investment Fund
About Community Music Center of Boston
Community Music Center of Boston (CMCB) is an arts education nonprofit founded in 1910. We are proud to act as the largest external provider of arts education to the Boston Public Schools, supporting learner-centered and culturally inclusive musical instruction for one of the most diverse school districts in the nation.
From providing lessons and classes to immigrants in the early 20th century, to bringing music into public schools at the height of Boston’s 1970’s school desegregation crisis, to providing support and care for HIV/AIDS patients in the 1980’s, CMCB is a nationally-recognized leader in using the power of music to support our communities.
Today, over 2,500 students participate in weekly programs, across our Community Music School (Lessons, Classes, and Ensembles at our main campus), Community Engagement Programs (Music classes and Music Therapy provided free of charge to participants at known-and-trusted community venues), and a Youth Development Program (Paid arts-sector workforce development training and career mentorship).
About TD Bank U.S.
TD Bank US Holding Company and its subsidiaries, including TD Bank, N.A., are collectively known as TD Bank U.S. As the U.S. banking business of The Toronto-Dominion Bank (TSX and NYSE: TD), a leading North American financial services firm, TD Bank U.S. serves more than 10 million clients and has a network of approximately 1,050 locations throughout the Northeast, Mid-Atlantic, Carolinas and Florida. We support our clients and communities with a full range of retail, small business, and commercial banking products and services. We also offer customized private banking and wealth management services, a comprehensive suite of credit card products for consumers and businesses, and automotive vehicle financing and dealer commercial services. TD Bank U.S. is one of the largest banks in the U.S. by assets and is headquartered in Mount Laurel, N.J. To learn more, visit www.td.com/us.
About BlueHub Capital
BlueHub’s NMTC program supports high-impact community development projects that benefit low-income and underserved areas. Through allocations from the U.S. Department of the Treasury, the program attracts private investment and lowers the cost of capital for projects that create jobs, expand essential services and generate long-term economic opportunity. BlueHub Capital is a mission-driven, nonprofit community development finance organization focused on building healthy communities where low-income people live and work. BlueHub uses innovative financial tools to support projects that make communities more vibrant places to live through three distinct programs: BlueHub Loan Fund (community development financing), BlueHub SUN (foreclosure relief) and One Percent for America (citizenship financing). Visit BlueHub Capital’s website for more information about its impact.
About National Community Investment Fund
National Community Investment Fund is a CDFI and mission-driven investor dedicated to expanding opportunity across rural, small-town, and urban America. We leverage private market capital, public sector investment, data-driven insights, and artificial intelligence to support nonprofits, community banks, small businesses, and community development initiatives—delivering catalytic impact where traditional financing has often fallen short.