July 23, 2025 – Boston Capital Finance is pleased to announce the closing of another fixed rate forward taxable affordable permanent loan.  

The development, 2640 East Lehigh, is a to-be-built affordable apartment community in Philadelphia, Pennsylvania’s Fishtown neighborhood. The project will feature 36 one- and two-bedroom units in a four-story, elevator-served building on a .2-acre site, offering affordable housing to households earning between 20% and 60% of the area median income.  The building will achieve Enterprise Green Communities certification and DOE Zero Energy Ready Home. Shared amenities will include a laundry room, multi-use community space with a kitchen, bike storage, and a private courtyard.

This community is co-developed by Timber, LLC and Volker Development. Timber is a Philadelphia based, emerging, minority-owned business. “Volker Development Inc is a leader in the affordable multifamily space. We are very pleased to be working with Volker and supporting Timber on this project.  Quality affordable housing is in great need in downtown Philadelphia and 2640 East Lehigh is perfectly designed to aid in that regard,” said Sean Curry, Partner, and Director of Investments and Originations.

Partner and Director of Underwriting Bill Fazzano remarked, “The market metrics are very strong, and we are very pleased to be adding this property to our growing Mid-Atlantic loan portfolio.”

Boston Capital Finance

Boston Capital Finance is a Boston, Massachusetts based boutique affordable lender with offices in Charleston, South Carolina and Phoenix Arizona.  Founded in 1994, the firm 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 and has closed over $4.5 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, Originations and Investments, 781-526-4319 scurry@bostoncapital.com

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

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

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