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MassDevelopment Issues $12M Bond for Boston’s Latinx Cultural Center
MassDevelopment has issued a $12.08 million tax-exempt bond for Inquilinos Boricuas en Acción, Inc. (IBA), enabling the construction of Boston’s new Latinx cultural center, La CASA: The Center for Arts, Self-Determination, and Activism. The bond was purchased by TD Bank, along with New Markets Tax Credits.
This four-story, 26,500-square-foot community space in Boston’s South End neighborhood will feature galleries, arts education spaces, a performance area, and community gathering spaces, including a multi-purpose arts space on the first level. The project, located at 85 West Newton Street, will also provide flexible spaces for IBA’s programs, services, property management, and community activities.
“Thanks to the generous partnership with MassDevelopment and the support of TD Bank, La CASA will stand as a beacon of cultural enrichment and community empowerment. We are envisioning a space not just made of walls and windows, but a haven for art, education, and economic prosperity,” said IBA CEO Vanessa Calderón-Rosado.
- ◦Financing
