Massachusetts Housing Investment Corporation (MHIC)

Today, we attended Bisnow's Affordable Housing Conference, where our President and CEO, Moddie Turay, was a featured panelist. The event brought together industry leaders, experts, and visionaries in the affordable housing field to discuss the future of housing affordability. ? During the discussion, Moddie and the panelists shared insights on how to leverage tax credits and funding strategies to make affordable housing projects not only feasible but also sustainable in the long term. They delved into the pressing challenges and opportunities in the industry, highlighting the importance of collaboration between government, developers, and financial partners to continue creating affordable housing and thriving communities. ? The conversations today underscored the importance of continued innovation and collaboration in overcoming the challenges that the affordable housing industry is currently facing. ? #BostonEvents #AffordableHousing #MHIC #CommunityDevelopment #Leadership

Last week, we attended the ribbon cutting to celebrate the new NorthStar Learning Center facility in New Bedford! ? The state-of-the-art early childhood education, care, and community center is located in the heart of the city and accessible by public transportation. It offers additional learning and childcare spaces, accommodating 65 more low-income children and allowing for 24 more children to be accepted through referrals from the Department of Children and Families. ? The new facility features a gross motor room for active play, dedicated parent resource and teacher conference rooms, nature-inspired outdoor play spaces, an edible garden, and a fully equipped commercial kitchen. Beyond educational benefits, it is also designed to double as a Community Center during evenings and weekends. ? A huge thank you to Maria A. Rosario, Jodi Wilinsky Hill, David Scheltz, NorthStar Learning Centers, Inc., and all of our funding partners. This would not have been possible without your support. ? We are excited to see the positive impact this new facility will have on both the children it serves and the broader community of New Bedford. ? #CommunityDevelopment #EarlyChildhoodEducation #NewBedford

On Monday, we joined residents, city officials, and partners to celebrate the acquisition of Fairlawn Apartments (formerly SoMA at the T) in Mattapan. Fairlawn Estates had previously faced increased rents that put residents at risk of eviction. Through MHIC's first closed deal with the Boston Acquisition Fund (BAF), we are proud to have preserved these 347 units as affordable housing, preventing displacement and ensuring long-term housing stability for current and future residents. #AffordableHousing #PreservingCommunities #MHIC #FairlawnApartments?

We at MHIC are thrilled to see the Elmont Norwell Scattered Site development progressing ahead of schedule and on budget! It has been an honor to collaborate on this project, bringing affordable homeownership opportunities to Dorchester. Congratulations to all the families who will soon call these homes their own! ? A huge thank you to the Chief of Housing, the MOH team, and the dedicated partners who have worked tirelessly to make this vision a reality. We look forward to continuing our work together to strengthen communities and create lasting impact. ? #BuildingBrighterFutures #CommunityPartnership #SustainableDevelopment #DorchesterHousing

It is with deep sadness that we share the passing of William "Bill" P. Nickerson. He was a valued member of the NMTC Advisory Committee since 2014 and a supporter of MHIC's work since 2003. His unwavering commitment and dedication to our work, particularly in identifying investment opportunities in low-income communities, helped shape the direction of our efforts. Bill’s sense of humor, passion for our mission, and thoughtful leadership were evident in everything he did. As the Director of the Boston Local Development Corporation (BLDC) and the Boston Industrial Development Financing Authority (BIDFA), Bill played a key role in advancing economic development in the City of Boston and beyond. He was a trusted advisor, offering guidance with clarity and care. We are incredibly grateful for all that Bill contributed to MHIC and the lasting impact he has made. He will be missed by everyone who had the privilege of working with him. Thank you, Bill, for your leadership, humor, and unwavering dedication to our mission. To read more about Bill's life and legacy, visit: https://lnkd.in/eW7NthkP

Don’t miss out on the opportunity to see our President and CEO, Moddie Turay, speak at the Bisnow Affordable Housing Conference on March 13th! Moddie, alongside other experts and professionals in the field, will be sharing their wealth of knowledge and experience on the latest trends, challenges, and opportunities in affordable housing. Whether you’re an industry professional, a policymaker, or simply someone interested in the future of affordable housing, this conference is an event you won't want to miss. Secure your spot today by purchasing a ticket through the Bisnow website. We look forward to seeing you there! https://lnkd.in/e94hksrJ #BostonEvents #AffordableHousing #CommunityDevelopment #FeaturedPanelist #Opportunity

We are thrilled to announce the successful closing of the Park and Pearl acquisition loans, which mark a significant milestone for both MHIC and the broader affordable housing community! This is the first loan from our regional acquisition NOAH (Naturally Occurring Affordable Housing) fund, specifically designed to support nonprofit and mission-driven developers in acquiring multifamily properties without existing income restrictions. The goal is to help these properties secure public subsidies to become permanent affordable housing. Park and Pearl consist of three buildings in Chelsea, totaling 30 units, which were acquired by sponsor The Neighborhood Developers (TND). This partnership sets a strong foundation as we work with TND to acquire additional NOAH units over the coming months. #AffordableHousing #SocialImpact #MHIC #CommunityDevelopment #CDFI #NOAH

Today, Citizens' Housing and Planning Association (CHAPA)'s Federal Forum brought together hundreds of industry professionals from across the affordable housing and community development field. The event featured thoughtful discussions addressing the challenges faced by our industry and strategies for helping communities thrive through uncertain times. During the State Perspective Panel, Moddie Turay, President and CEO of MHIC, shared his hopeful vision of the future, "I'm optimistic about our staff and this community because I think there is so much commitment here, so much passion about the work. I know just from that, that we will continue to do the hard work, and that's encouraging to me." #BostonEvents #AffordableHousing #CommunityCommitment #FutureFocused

We want to recognize Krina Patel's outstanding contributions to the MHIC team! She has played a pivotal role in tracking MHIC fund sources, supporting investor and project presentations, and filling in missing database inputs, which have boosted accuracy and efficiency across multiple initiatives.?Her efforts have had a resounding impact on our operations. Thank you, Krina, for the impact you've made at MHIC. We are so glad to have you as part of the team! #InternSuccess #CareerDevelopment #ProfessionalGrowth #MHIC

MHIC Closes $63.7M Social Impact Fund, Driving Economic Opportunity We’re proud to announce the closing of MHIC’s Social Impact Fund, a $63.7 million initiative investing in communities that need it most. This fund has supported nine developments across Massachusetts, creating 342 affordable homes for seniors, individuals experiencing homelessness, youth aging out of foster care, and others facing economic hardship. “Our mission has always been about creating real and lasting impact,” said Moddie Turay, MHIC President & CEO. “This fund represents our deep commitment to economic opportunity, supporting local businesses, and fostering sustainable development.” This milestone is part of MHIC’s long-standing commitment to economic inclusion—having directed $845 million to local, socially and economically disadvantaged businesses—and to advancing equitable, sustainable development across New England. A huge thank you to our investors and developer partners who share our vision for stronger, more resilient communities. Together, we’re building lasting opportunities. #CommunityDevelopment #SocialImpact #AffordableHousing #EconomicInclusion