Rockland Trust is providing a financing package of $7.4 million to Father Bill’s & MainSpring (FBMS) for the development of a new 24-unit affordable housing community at 150-156 Quincy St. in Quincy, MA. The Quincy Street Apartments project will transform the site into a multifamily residential community designed to expand access to housing in a region facing significant housing affordability challenges.
The project will utilize Low-Income Housing Tax Credits and other public and private funding sources to ensure long-term affordability. Stratford Capital serves as the tax credit syndicator, bringing additional equity investment to support the development.
“Father Bill’s has a remarkable track record of creating housing opportunities for individuals and families in need. This project reflects the power of collaboration between nonprofit organizations, public agencies, and financial institutions to address the growing demand for affordable housing across Massachusetts,” said Charles Testa, VP Commercial Banking Officer at Rockland Trust. “Access to affordable housing is essential to building strong, thriving communities.”
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