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Nuestra to Address Affordable Housing in Roxbury with $16M from MassDevelopment
MassDevelopment has issued a $15.8-million tax-exempt bond on behalf of Dudley Crossing LLC, an affiliate of Nuestra Comunidad Development Corporation. Citizens Bank and Silicon Valley Bank purchased the bond.
Nuestra will use proceeds to build and preserve 47 units of affordable housing across three locations near Nubian Square in Boston’s Roxbury neighborhood.
As part of this project, dubbed Dudley Crossing, the organization will buy, renovate and equip two buildings (375-385 Dudley St. and 2-4 Dunmore St./205-210 Hampden St.) that contain a combined 23 units of existing affordable housing. The organization will also demolish a building at 387-397 Dudley St. and build a larger, 28,000-square-foot building with 24 units affordable housing.
“Building and preserving affordable housing is vital to addressing the Commonwealth’s housing crisis and ensuring residents can remain in their communities,” said MassDevelopment housing and economic development secretary Mike Kennealy, who serves as chair of MassDevelopment’s board of directors.
Photo: Nuestra Comunidad Development Corporation
- ◦Development
