October 27, 2023 — Boston Capital Finance (BCF) is pleased to announce another construction to permanent, tax-exempt bond closing. Residences at Falcon Park is a to-be-built 192-unit affordable housing apartment building located in Phoenix, Arizona.
“Th
e Residences at Falcon Park bond closing is another example of our commitment to affordable lending in Arizona. Phoenix has been one of the fastest growing areas in the country with rental growth rapidly expanding. This property, situated on 5.26 acres, will bring much needed affordable housing options to the area,” said Bill Fazzano, Director of Underwriting and Asset Management.
About the Developers
“Palindrome Properties Group, headquartered in Portland, Oregon is one of the premier affordable developers in the country. We are thrilled to be working with them on another project,” said Sean Curry, Director of Originations, and Investments.
PacifiCap Properties Group was founded in 1999 to develop affordable multifamily housing. In 2008 PacifiCap was re-branded into Palindrome Communities to develop broader projects that re-energize and revitalize neighborhoods through mixed use projects. Palindrome has worked extensively with city, state, local and federal agencies to create new affordable housing communities. Palindrome’s real estate portfolio includes stabilized rental and mixed-use communities located in Oregon, Washington, New Mexico, Arizona, Nevada and Colorado.
Urban Development Partners LLC, was founded in 1997. They have constructed five properties in Arizona in collaboration with Palindrome. Urban Development has won multiple awards for their properties, such as the “Arizona Forward Crescordia Award” and the “LISC project of the year”.
Boston Capital Finance
BCF was founded in 1994 as a wholly owned subsidiary of Boston Capital Corporation and provides construction-to-permanent financing on properties that have or will obtain low-income housing tax credits. BCF owned and managed by Jack Manning, Kevin Costello, Bill Fazzano and Sean Curry has closed over $3.8 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
Bill Fazzano, Underwriting and Asset Management 617-331-4098, bfazzano@bostoncapital.com
Walter Williams, Originations, 617-694-5182 wwilliams@bostoncapital.com
Don Phelan, Originations, 860-614-8650 dphelan@bostoncapital.com