MassDevelopment has issued an $8.2 million tax-exempt bond for Abby’s House, an organization in Worcester that provides housing, shelter and support services to homeless and low-income women, with or without children.
Abby’s House will use bond proceeds to renovate its 53-unit single occupancy facility at 52 High St. in Worcester. The renovations will add two units, bringing the total unit count to 55; update HVAC, electrical, plumbing and security systems; and increase accessibility with a reconfigured entrance, an elevator and accessible kitchens and bedrooms. Eastern Bank purchased the bond.
“Abby’s House provides women in need of financial and emotional support with the security of a safe, accessible home,” Lauren Liss, MassDevelopment president and CEO, said in a statement. “MassDevelopment is proud to help finance this project, which will allow Abby’s House to plan for the long term by updating its existing building.”
“Core to Eastern Bank is doing good things that help people prosper,” Pamela Feingold, senior vice president of Community Development Lending for Eastern Bank, said in a statement. “We are honored to work with Abby’s House around the financing of renovations that will continue to make safe, affordable housing available in the community.”