July 15, 2025 – Boston Capital Finance is pleased to announce the closing of another fixed rate forward taxable affordable permanent loan.  

The development, Ovetta Rosedale, is a to-be-built rent-restricted apartment building in Austin, Texas. Ovetta Rosedale will provide 70 studio, one-, two-, and three-bedroom affordable units for households earning no more than 30-80% of the area median income.  The project will include one new construction four-story building located on a .78-acre site. In addition to the residential and amenity spaces, this development will provide 47 covered parking spaces. Project amenities will include a business center, snack bar, kids’ playroom, fitness room, TV lounge, leasing office, playground, and on-site pre-kindergarten class.

“We are thrilled to be working with O-SDA Industries on this transaction. Megan Lasch is a leader in the affordable housing market in Texas.   Quality affordable housing is in great need in Austin, and Ovetta Rosedale is perfectly designed to aid in that regard,” said Sean Curry, Partner, and Director of Investments and Originations.  

Ovetta Rosedale is being developed in partnership with the Austin Affordable Housing Corporation, a nonprofit subsidiary of the Housing Authority of the City of Austin.

Partner and Director of Underwriting Bill Fazzano remarked, “I visited the site in March and found the subject development to be well suited for the area. The market metrics are very strong, and we are very pleased to be adding this property to our growing Texas 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