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Wainwright Bank Provides $10M In Financing Hope House

Apr 23, 2009 | Reprints | Unlock Link | Print

Rendering of the new Hope House facility in Boston's Roxbury neighborhood that will open its doors next month. Wainwright Bank & Trust Co. recently closed on a complex New Markets Tax Credit financing structure for Hope House, a nonprofit that serves recovering alcoholics and substance abusers.

The bank provided $10 million of New Markets Tax Credit Allocation (as the controlling entity of AI Wainwright LLC), as well as $7.4 million of loans to facilitate Hope House’s move to 34,000 square feet of space in Boston’s Roxbury neighborhood.

The project is LEED-Silver certifiable with green design features such as photovoltaic panels and a geothermal heating system, the bank said.

"Wainwright Bank’s creative approach to financing and strong support of our mission has been integral to Hope House’s success," said Hope House Executive Director Tom Duffly. "We are excited to provide a new and wonderful home for our residents. Thanks to Wainwright, we will be able to better serve our clients as they move through recovery and become productive members of their communities."

Banking & Lending