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Boston Financial has amassed one of the largest portfolios of affordable multifamily housing properties in the country. As of September 30, 2009, our portfolio totaled approximately $10.2 billion of assets under management secured by 1,870 multifamily properties containing 186,000 apartment units.

  • under $50mm of equity
  • from $50mm to $100mm of equity
  • from $100mm to $250mm of equity
  • above $250mm of equity

Select one of the Featured Properties below for more details.

The Landings Apartments — Chula Vista, CA

The Landings Apartments consists of 92 three-bedroom townhomes located in the Otay Ranch area of Chula Vista, California, targeting families earning between 30%-60% of area median income. The property was built to meet the inclusionary housing requirements encumbering Brookfield and Shea Homes, the master developers for the Winding Walk master-planned community. Winding Walk will consist of approximately 235 affordable rental apartments (Phase I and soon-to-be built Phase II of The Landings) and 1,938 single-family homes. The community also contains extensive shopping areas, a high school, parks, trails, and two recreational centers equipped with pools. The Landings is located within ½ mile of the Otay Town Center Shopping Mall, a large retail center. Construction for The Landings was completed in December 2008 and the property is 100% occupied with a 500-person waiting list. Boston Financial is proud to have provided over $11.7 million of LIHTC equity financing.

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Ashland Commons Apartments — Baltimore, MD

Ashland Commons is a 78-unit development for families located in Baltimore, Maryland. The property is located within the East Baltimore Development Initiative Planned Unit Development, with Forest City Enterprises acting as its master developer. The goal of the development initiative is to revitalize a blighted 80-acre neighborhood directly north of the Johns Hopkins Medical Campus. Phase I of the master-planned development will include 450 units of new and renovated housing, 1.1 million square feet of biotech/office space, 80,000 square feet of retail space, 3 structured parking garages and an abundance of private and public green spaces on 33 acres. Ashland Commons is part of Phase I and is located on a 69 acre site. It contains one four-story building featuring 22 one-bedroom units, 54 two-bedroom units and 2 three-bedroom units, all targeted to residents earning no more than 50% to 60% of area median income. In addition to the amenities provided within the property, Ashland will also benefit from all of the amenities and services that are available within walking distance, including access to the town square located 2 blocks from the property. The town square is being built in conjunction with the first biotech building and was completed in 2008. Boston Financial is proud to have provided over $9.7 million of LIHTC equity financing.

Ashland Commons received the 2008 Award of Excellence from the Home Builders Association of Maryland.

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The Dartmouth Hotel — Boston, MA

The Dartmouth Hotel development involved the historic rehabilitation of an existing hotel building and new construction of an adjoining building on the same parcel in Boston, MA. Both buildings house commercial space on the ground floor and residential on the second and third stories (total of 65 residential units and 10,000 SF of retail space). The rehabbed building contains 45 LIHTC units, and the new construction building contains 20 non-tax credit units. Dartmouth Hotel has proven to be an extremely important anchor project in the rehabilitation of the Dudley Square area of Boston. The tenancy includes 12 clients of the Massachusetts Department of Mental Health, 13 formerly homeless households referred from the Boston Housing Authority, 6 loft apartments occupied by artists referred from the Boston Redevelopment Authority, and 34 residential units leased to non-special needs low and moderate income tenants. Boston Financial is proud to have provided over $7.8 million of LIHTC equity financing.

The Dartmouth Hotel received the 2008 National Housing & Rehabilitation Association J. Timothy Anderson Award for Excellence in Historic Rehabilitation in the mixed income category.

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Tuscany at Buda — Buda, TX

Tuscany Park at Buda is a 176-unit apartment community for families located in Buda, Texas, a suburb of Austin. The property, situated on a 13.0 acre site, consists of 176 units in 14 residential buildings plus a clubhouse/leasing office. The total unit mix consists of 56 one-bedroom units, 96 two-bedroom units, and 24 three-bedroom units. Unit amenities include central heat and air conditioning, patios/balconies, carpeting, vinyl flooring, ceiling fans, washer/dryer connections, and fully equipped kitchens including a range, refrigerator with ice maker, a garbage disposal, and dishwasher. Project amenities include a swimming pool, picnic area with barbeque grills, playground/tot lot, and a clubhouse with a manager/leasing office, a community room with fireplace and adjoining kitchen, a business center, classroom, a residents’ sports room, and a fitness center. Boston Financial is proud to have provided over $10.6 million of LIHTC equity financing.

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Bridgeton V Apartments — Bridgeton, NJ

Bridgeton V is a 23-unit affordable property for families located in Bridgeton, NJ. The project is the fifth and final phase of the 290-unit Bridgeton HOPE VI redevelopment. Bridgeton V replaces a dated public housing project with newly constructed two- and three-story single family homes. The families enjoy exceptional urban amenities such as: dishwashers, in-unit washer/dryers, front porches, rear patios, playgrounds, a community building, and other various outdoor recreation areas. Boston Financial is proud to have provided over $4.7 million of LIHTC equity financing. Additionally, Bridgeton V received the 2007 Multifamily Housing Award from the American Institute of Architects.

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