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Boston & New England  + Massachusetts  |  November 30, 2023
Emily Fu
By: Emily Fu

Waltham Affordable Housing Complex Lands $18M Tax-Exempt Bond

MassDevelopment issued a $17.82 million tax-exempt bond for 2Life Leland LLC, allowing Leland House’s construction in downtown Waltham, Massachusetts. The site, formerly the Leland Home, transforms into a three-story, 68-unit affordable rental for seniors. Adhering to Passive House standards, it offers one and two-bedroom units with universal design elements for accessibility. 

“Now, as Massachusetts faces a housing shortage, we’re excited to help 2Life Communities build a new senior living community that keeps this legacy alive while also incorporating modern design standards that make for a healthier and more sustainable living experience,” said MassDevelopment president and CEO Dan Rivera.  

The ground floor hosts an active Village Center for fitness, wellness, and community events. Federal low-income housing tax credits and Brookline Bank’s support bolstered the project. In FY2022, MassDevelopment financed 356 projects, injecting over $1.69 billion into Massachusetts’ economy, aiding job creation and housing development. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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