June 24, 2021 — June 24, 2021 – Boston Capital Finance (BCF) is pleased to announce another closing of a construction-to-permanent, tax-exempt bond. Abbington on Mt. Holly is a 102-unit affordable apartment complex to-be-built in Charlotte, North Carolina. The Property will be family-orientated and consist of four new, three- to four-story residential buildings as well as a one-story clubhouse.
“We were able to provide the borrower a very competitive construction-to-permanent bond execution and are thrilled to play a role in the project by providing the financing,” said Sean Curry, Director of Investor Relations and Originations. “The 102-units of much-needed affordable housing units will be a great project for the city of Charlotte,” added Bill Fazzano, Director of Asset Management and Underwriting.
Boston Capital Finance
BCF, a wholly owned subsidiary of Boston Capital Corporation, was founded in 1994 and provides construction-to-permanent financing on properties that have or will obtain low-income housing tax credits. BCF has closed over $2.5 billion of affordable bonds and loans and is owned and managed by Jack Manning and Kevin Costello.
“With the passing of the recent 4% fixed legislation, we are continuing to see more high quality tax exempt bonds being closed. Given the great need for affordable housing in our country, this is great news and filling a real need,” said Don Phelan, Director and special consultant to BCF.
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