January 8, 2026 – Boston Capital Finance is pleased to announce the closing of another fixed rate forward taxable affordable loan.

The St. Petersburg Housing Authority (SPHA) is transforming the former Edward White Hospital site into 71 affordable housing units.  The rehabilitation will include the full repurpose of the 121,000 square foot six-story midrise building.  SPHA will relocate its administrative offices to the development and Evara Health will establish a clinic at the location. The complex will be renamed The Edward White Campus.  The project is named in honor of former Astronaut Edward H. White II.

Founded in 1937, SPHA is one of the oldest housing authorities in the nation and is continually rated by the U.S. Department of Housing and Urban Development (HUD) as a “High Performing” agency.  Through various programs, SPHA provides quality and sustainable housing opportunities for approximately 4,000 qualifying low-income households.  “Along with our partners, we are delighted to rehabilitate this historic building and deliver high-quality affordable housing to the city of St. Petersburg, Florida,” said Michael Lundy, SPHA President and CEO.

“We are very pleased to be lending $16 million into this high-quality project. This redevelopment will be truly transformative to the neighborhood” said Sean Curry, Partner and Director of Investments and Originations.

“This project is an excellent addition to our growing Southeast loan portfolio and again showcases our commitment to attainable lending in Florida” said Bill Fazzano, Partner and Director of Underwriting.

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 $4.7 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