GBH News: BlueHub helps nonprofit buy building to avert tenants' displacement

February 23rd, 2022

GBH News covered BlueHub borrower Asian Community Development Corporation's (ACDC) purchase of 64-68 Beach St., a six-story building in Boston's Chinatown with a ground-floor restaurant and 14 residential units. From the story: 

"It's the first time a nonprofit has bought an occupied building in Chinatown. Their aim is to maintain affordability for the people who currently live there. Angie Liou, the executive director of ACDC, said the group did not want to see the residents displaced. She said it takes a very long time to build affordable housing from scratch, making it difficult to outpace gentrification occurring in the neighborhood.

"It's very challenging for immigrant workers who might not speak English well, who are not familiar with navigating the local systems, they really need to stay in Chinatown, but they can't afford to," Liou said."

Read the story.