MassDevelopment invested $2.3 billion in Massachusetts businesses, nonprofits and communities in fiscal year 2013, which ended on June 30.
The agency funded 317 projects that created 2,021 jobs at Massachusetts universities and hospitals, small nonprofits and cultural centers, emerging technology firms and advanced manufacturing companies.
MassDevelopment invested $1.25 billion in greater Boston, of which $33.4 million went toward projects in Boston’s affordable rental housing market. Included in those projects were a 5.3 million tax-exempt bond to The Abrams Development Co.’s Danube Apartments LLC, which bought and renovated 65 multi-family, affordable, rental housing units in Dorchester and Jamaica Plain as well as a $14.8 million tax-exempt bond on behalf of Trinity Financial’s Trinity Mattapan Heights Five Limited Partnership, which built a 60-unit affordable housing facility in Mattapan.
“Tax-exempt bonds provide low rates for affordable housing projects and access to much-needed federal housing tax credits,” MassDevelopment President and CEO Marty Jones said in a statement. “Creating affordable housing is a critical part of MassDevelopment’s mission, and I am proud we can provide financial means to improve the quality of life for many families living and working in Boston.”





