December 9, 2025 – Boston Capital Finance (BCF) is pleased to announce the closing of a construction to permanent multifamily conduit tax-exempt bond.  

The Touro Shakespeare financing will rehabilitate a 52-unit senior affordable development located in New Orleans, Louisiana. Situated on a 7-acre site, the property will feature one 3-story building.  The project will offer controlled access, on-site management, communal spaces, and 52 parking spaces, with each unit featuring modern finishes, full appliances, and in-unit laundry.

New Orleans based HRI Communities, LLC is the developer. “Along with our partners, we are delighted to put this incredibly historic structure back into commerce and deliver high-quality senior affordable housing to the city of New Orleans, Louisiana,” said Josh Collen, President of HRI Communities, LLC.

“We are excited to be working with the HRI Communities, LLC on this conduit multifamily bond.  I’ve shared a working relationship with Josh, Chris Clement and Carey Slocum for over 15 years and have been fortunate to finance many of their developments over that period.  They continue to select BCF based on our understanding of the market, seasoned team and certainty of delivery,” said Sean Curry, Partner and Director of Originations and Investments.  

“This closing is another example of our longstanding commitment to financing attainable multifamily bonds and loans in Louisiana.  This development will be truly transformative for the neighborhood, and we are very pleased to be adding this asset to our Southeastern portfolio,” said Bill Fazzano, Partner and Director of Underwriting.

HRI Communities

HRI Communities, LLC is dedicated to developing high quality, mixed- income, workforce and affordable housing that revitalizes neighborhoods. From artist lofts that infuse creativity while spurring economic development to sustainable housing developments that improve neighborhoods and address critical needs, HRI Communities, LLC excels in its mission of transforming underserved communities into places where people want to live, work and play. HRI Communities, LLC is a full-service real estate development company, with affiliated architectural design and property management services companies and is a national leader in the adaptive reuse of historic structures. Since 1982, HRIC and its affiliates have completed 116 projects involving more than $3.9 billion of total invested capital, which resulted in the creation of over 7,200 apartment units, over 8,700 hotel rooms, and more than 1.4 million square feet of office and retail space. For more information, please visit their website at www.hriproperties.com.

Boston Capital Finance

BCF was founded in 1994 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 $4.7 billion of affordable bonds and loans.  For more information, please visit our website at www.bostoncapital.com.

Have an affordable tax-exempt bond or taxable permanent loan that needs to be financed? Please call:

Sean Curry, Investments and Originations, 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