A new report analyzes nonprofit BlueHub Capital’s nearly four decades of investment in Boston’s Roxbury neighborhood, examining how $147 million in financing has fueled community-driven efforts to increase access to housing, childcare, workforce training and education in BlueHub’s home neighborhood.
The impact analysis outlines the long-term outcomes of BlueHub’s intentional and concentrated capital deployment in Roxbury, including almost $36 million in 2024 alone, made in collaboration with community organizations and local developers. These investments have contributed to:
According to the report, BlueHub has leveraged an estimated $910 million in additional capital for community projects in Roxbury, averaging $6.19 in additional investment for every dollar deployed.
BlueHub is a Boston-based national community development financing organization focused on building healthy communities where low-income people live and work. BlueHub also houses BlueHub Loan Fund, one of the oldest and largest community development financial institutions (CDFIs) in the country. CDFIs are mission-driven lenders that provide financing to people and communities typically underserved by traditional banks. BlueHub’s investments in Roxbury are nearly as old as the CDFI industry itself.
As this often-overlooked sector draws more attention amid proposed cuts to the federal CDFI Fund, BlueHub’s long history in Roxbury offers a clear example of how place-based investment, guided by local leadership, can support lasting neighborhood change.
“This analysis shows what’s possible when long-term, mission-driven investment is sustained over decades,” said Elyse Cherry, CEO of BlueHub Capital. “Roxbury is a powerful example of how targeted capital, deployed in partnership with the community, can drive measurable change. The findings reinforce the vital role CDFIs like BlueHub play and how we can continue to build on this work to meet evolving community needs in the area and throughout the country.”
Across 46 states and Washington D.C., BlueHub Capital has invested over $3.2 billion in affordable housing, school facilities, community-based health centers, clean energy and more. In 2025, BlueHub celebrates its 40th anniversary and a history that is inextricably tied to the Roxbury community.
Located in the geographic center of Boston, Roxbury is a community of color that was home to civil rights leaders including Melnea Cass and Malcolm X. Years of exclusionary economic policies left the area struggling to attract businesses, while deteriorating buildings and environmental hazards threatened residents’ health. Without access to financing, community members and local entrepreneurs faced steep barriers to revitalizing the neighborhood and creating new spaces for growth.
BlueHub made its first loan in Roxbury in 1986 and has been headquartered in the neighborhood since 2000. Over the years, BlueHub has become an integral member of the community development ecosystem that is working to advance the neighborhood’s vision for its future and deliver critical social and economic resources to its residents.
“BlueHub is not afraid of complexity, and a lot of the financing for these projects requires complexity,” said BlueHub Loan Fund President Karen Kelleher. “We have a robust ecosystem here, and we do nothing alone. There are always other partners with us working to make deals possible.”
By connecting forward-thinking developers to financing, BlueHub helps organizations find innovative solutions and break down systemic barriers to investment. The independent report concludes that BlueHub’s concentrated, flexible investments have “undoubtedly led to positive outcomes in housing affordability and access to community resources including education and social programs.”
Some of the projects that BlueHub has supported in Roxbury throughout its history include:
“I’m glad they [BlueHub] are investing in FCTech. I’m glad they’re investing in Nubian Ascends. I’m glad they’re investing in The American City Coalition, because it shows they’re deeply invested in [Nubian Square]. They’re invested in the issues people care about. They’re invested in outcomes,” said Reverend Willie Bodrick II, the CEO and President of The American City Coalition (TACC), which has driven workforce development in Roxbury. “That’s really what we’re desiring, for folks to be partners with us, to see the vision that we see, and to be part of that vision.”
In addition to financing innovative and community-centered development projects, BlueHub has helped 19 Roxbury residents avoid foreclosure and eviction through its SUN initiative. Born out of the 2008 financial crisis, SUN helps homeowners retain and regain homeownership by refinancing or purchasing their homes and selling it back to them with mortgages they can afford. In Roxbury, SUN has provided over $4 million in loans and helped homeowners build nearly $7 million in home equity that otherwise would have been lost to foreclosure and eviction.
While measurable and meaningful progress has been made in Roxbury, ongoing investment will be required to sustain and expand opportunity. The report notes that, “unequal distribution of wealth and resources persist, and it is clear that continued collaboration and investment are needed to address social challenges as they emerge.”
Adler Bernadin, owner of Norfolk Development and Lavi Investments, grew up in the community and has partnered with BlueHub on projects that help preserve affordable housing in the neighborhood. He has leveraged over $1.5 million in loans to create over 30 units of affordable housing in Roxbury.
“I hope [Roxbury] continues to prosper, and we continue to make meaningful investments in the community, not only in housing but helping to change people’s lives within the community by providing resources,” said Bernadin. “It’s going to take hard work to intentionally invest in the community, the people who want to build their community. That’s what we’re all about, and that’s why we’re excited that BlueHub is intentional about trying to invest in people who know the problems, people who have lived through the problems, but also [those who] want to fix the problems.”
Analysis for the Roxbury Impact Report was conducted by third-party experts LifeCity, an organization that helps track and report the impact of community development. LifeCity interviewed 35 people including BlueHub personnel, Roxbury residents and developers to understand the community-level impacts of BlueHub’s lending in Roxbury. The interviews were reviewed alongside community data and local planning initiatives in order to analyze how BlueHub’s investments have met community needs.
About BlueHub Capital
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).
