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Carpenters Fund To Buy Boston Building

Jan 13, 2011 | Reprints | Unlock Link | Print

The Boston Carpenters Apprenticeship Training Fund (BCATF) has been given $13.5 million in New Markets Tax Credit (NMTC) financing from the Massachusetts Housing Investment Corp. (MHIC) to buy a commercial condominium at 750 Dorchester Ave. in Boston’s Dorchester neighborhood.

The 38,900-square-foot Dorchester Avenue property is owned by the New England Regional Council of Carpenters (NERCC), according to a statement. The property became the new headquarters for BCATF and for its training programs in early 2010. BCATF was previously housed in a 14,600-square-foot facility in Brighton.

The BCATF provides training and education to carpenter’s apprentices and journeymen carpenters.

US Bancorp Community Development Corp. is the NMTC investor, according to a statement. Tax exempt bond financing was provided by Danversbank.

Commercial & Industrial