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Boston & New England  + Boston  + Finance  | 
Franklin Park Apartments Boston affordable housing

Scattered-Site Boston Affordable Garners $31M Financing

MassHousing has closed on $31.4 million in affordable housing financing to The Community Builders, Inc. (TCB) for the refinancing and extension of affordability at the 219-unit Franklin Park Apartments in Boston. The refi came through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with lender partner Rockport Mortgage Corporation.  

TCB will extend rental assistance affordability protections for 155 of the 219 units at Franklin Park Apartments by an additional 29 years and will also complete approximately $1.5 million in property improvements at the 15-building housing community, located on 12 scattered sites in Dorchester and Roxbury.     

“There remains a very clear need for safe, affordable housing not only within the city of Boston but all across the Commonwealth of Massachusetts,” said Rockport Mortgage president Dan Lyons. “We look forward to continuing our work with MassHousing and other mission-driven nonprofit developers like The Community Builders.”  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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