April 18, 2025 – Boston Capital Finance (BCF) is pleased to announce the closing of another fixed rate forward taxable affordable loan.  

The development, Villas at Lexwoods, is a to-be-built rent-restricted townhome-style apartment complex that will be located in Lexington Park, Maryland. Villas at Lexwoods will provide affordable units for households earning no more than 30-40% of the Area Median Income.

“We are thrilled to be working again with Green Street Housing LLC and TM Associates Development, Inc.  We have had the pleasure of financing projects with both Green Street LLC and TM Development LLC in the past and were fortunate to be selected as lender to work with them again on this fantastic project,” said Sean Curry, Partner, and Director of Investments and Originations.

Partner and Director of Underwriting Bill Fazzano remarked, “the market metrics on this transaction are very strong. The market is very well tenanted and in need of further affordable housing options.”

Green Street Housing, LLC

Green Street Housing is a Maryland-based affordable housing developer whose principals have many years of development experience and over $100’s of millions in closed transactions in the region.  Green Street Housing takes great pride in its green-building practices which include Energy Star building practices and on-site solar energy production at all its Maryland affordable apartment communities.  Learn more at www.greenstreethousing.com.

TM Associates Development, Inc.

TM Associates’ history of successes includes new construction and rehabilitation projects. They have enjoyed trusted partnerships with many for-profit and non-profit organizations and continue to work alongside those who share their dedication to the development and preservation of affordable housing communities. They have gained invaluable experience mastering complex projects and have been repeatedly recognized for their green-building efforts.

Boston Capital Finance

BCF is a Boston, Massachusetts based boutique affordable lender with offices in Charleston, South Carolina and Phoenix Arizona.  BCF founded in 1994 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 has closed over $4.3 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