The Community Economic Development Assistance Corporation (CEDAC) recently approved acquisition and predevelopment loans totaling over $1.3 million to Urban Edge Housing Corp. and Family Nurturing Center of Massachusetts. CEDAC’s financing will support the development of affordable housing in the Roxbury neighborhood and improvements to a parent support program in the Dorchester neighborhood of Boston.
CEDAC provided $1.2 million in acquisition financing to Urban Edge Housing Development for the purchase and development of a new affordable housing project on Columbus Avenue in Roxbury, which includes 38 units of multifamily affordable rental housing and 1,000 square feet of commercial space. This new affordable housing project, which will be located just blocks from the Jackson Square MBTA station, will serve low- and extremely low-income families in the community and continue the trend of growth in the area in and around Jackson Square.
“We have been extremely proud to support the efforts by the Jackson Square Partners to revitalize the neighborhood in a way that helps current residents,” Roger Herzog, CEDAC’s executive director, said in a statement. “The current site is blighted and the neighborhood will greatly benefit from quality housing on that site. It is a pleasure to continue our effective relationship with Urban Edge, which goes beyond the Jackson Square redevelopment and into other nearby neighborhoods in Roxbury and Jamaica Plain.”
Family Nurturing Center of Massachusetts (FNC) also received $123,100 from CEDAC, through its affiliate Children’s Investment Fund, for the expansion of a Dorchester location. This commitment is in addition to $375,000 previously provided to FNC by the fund for this project. For over two decades, FNC has provided comprehensive family support services to low-income families throughout Boston. To allow for the expansion of programmatic and administrative space, FNC is renovating and enlarging its existing Bowdoin Street center to include two additional floors.
