MassDevelopment Issues $40M Bond to Build Brookline Affordable Housing 

MassDevelopment has issued a $39.9 million tax-exempt bond on behalf of 32 Marion Apartments LLC, a Brookline Housing Authority affiliate, for constructing 115 affordable housing units in Coolidge Corner, Brookline, MA. These one-bedroom units will accommodate seniors and individuals with disabilities, replacing 60 outdated public housing units. Construction began in January 2024 and is slated for completion by December 2025. Eastern Bank and Rockland Trust purchased the bond, facilitating lower capital costs. 

MassDevelopment’s assistance includes federal low-income housing tax credits, state tax credits, Town of Brookline funding, and loans. The Brookline Housing Authority aims to enhance living standards and economic self-sufficiency.  

“Our economy thrives when residents of all ages and abilities have access to safe, affordable housing,” said Yvonne Hao, secretary of Economic Development who serves as chair of MassDevelopment’s Board of Directors. “We’re excited to see this project advancing, which will develop over a hundred affordable homes to a vibrant neighborhood in Massachusetts.”