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Boston Capital Corporation (BCC) was a PIONEER in the affordable housing industry. Since being founded in 1974, by Jack Manning and Herb Collins, the firm navigated the GROWTH and EVOLUTION of this all-important asset class.
We participated in the development of the federal tax credit program, established new investment and funding options, and developed innovative technologies to move ourselves-and the industry-forward. Since inception, Boston Capital invested in 3,700 multifamily apartment properties located in all 50 states, with total development cost exceeding $19 billion.
In December, 2020, BCC sold substantially all of their low income housing tax credit (LIHTC) portfolio to focus on debt financing via their wholly owned debt financing subsidiary Boston Capital Finance and third party asset management via their related party Boston Capital Asset Management. The development business was transitioned and now operates at Tremont Development Partners LLC. Visit them here www.tremontdevelopment.com
BCF was founded in 1994 and provides construction-to-permanent financing on properties that have or will obtain low-income housing tax credits. BCF owned and managed by Jack Manning, Kevin Costello, Bill Fazzano and Sean Curry has closed over $4.5 billion of affordable bonds and loans. We provide tax exempt construction to permanent bond financing as well as fixed rate forward conventional loan funding. We work with some of the largest capital partners in the market. Through these partnerships, we are able to offer the best of both worlds, certainty of delivery on executions coupled with a boutique borrower focused lending group. We originate, underwrite, close and service all bonds and mortgages.
Press Releases
News and UPDATES
Don Phelan has retired
March 17, 2026 Boston Capital Finance (BCF) would like to announce the retirement of Don Phelan. Don joined BCF in 2019 after Don first retired as a Managing Director at Barings (a MassMutual affiliate) in December 2018. At Barings, Don managed the Affordable...
145 Kennedy
February 13, 2026 – Boston Capital Finance (BCF) is pleased to announce the closing of another fixed rate forward taxable affordable loan in the city of Washington, DC. 145 Kennedy Apartments is a collaboration between Legacy Real Estate Development, Mutreja...
Franklin Falls Apartments
February 12, 2026 – Boston Capital Finance is pleased to announce the closing of another fixed rate forward taxable affordable permanent loan. The multifamily development, Franklin Falls Apartments, is a to-be-built rent-restricted apartment building in Franklin,...
