December 5, 2024 – Boston Capital Finance (BCF) is pleased to announce the closing of another fixed rate forward taxable affordable loan in the city of Washington, DC.

MED Developers and Mutreja Development have started construction on 1109 Congress Apartments along with the Non-Profit Sponsor, Housing Help Plus.  Located at 1109 Congress Street NE, Washington, DC, 1109 Congress Apartments will be a newly constructed eight-story midrise building offering 25 studios, 38 one-bedroom units and 6 two-bedroom units.

“We are excited to be working with the MED Development and the Mutreja Development to provide this much needed quality affordable housing to the most vulnerable population of Washington, DC.  Neil and Bruce had many financing options and selected BCF based on our certainty of delivery and boutique closing process.”  said Sean Curry, Partner and Director of Investments and Originations.

Partner and Director of Underwriting Bill Fazzano remarked, “Our Boston Capital Long Term Mortgage Fund VI is a unique 9% forward delayed product.  This non-agency, private placement, 40-year amortizing loan product can be paired with any equity investment and construction loan of a developer’s choosing.  It allows for a best-in-class execution coupled with superior terms.”

Boston Capital Finance

BCF is a Boston, Massachusetts based boutique affordable lender with offices in Charleston, South Carolina, and Phoenix Arizona.  BCF founded in 1994 provides construction-to-permanent financing on properties that have or will obtain low-income housing tax credits.  The firm is owned and managed by Jack Manning, Kevin Costello, Bill Fazzano and Sean Curry has closed over $4.2 billion of affordable bonds and loans.  

Have an affordable tax-exempt bond or taxable permanent loan that needs to be financed? Please call:

Sean Curry 781-526-4319, scurry@bostoncapital.com 

Bill Fazzano 617-331-4098, bfazzano@bostoncapital.com

Walter Williams 617-694-5182, wwilliams@bostoncapital.com

Don Phelan 860-614-8650, dphelan@bostoncapital.com