No images? Click here
Black Bostonians Lead Historic Purchase and
Catalytic Development
Nubian Ascends Partners Close on Predevelopment Financing for Economic, Arts, & Culture Hub
LISC, in partnership with five other participating lenders, recently closed on $3 million in predevelopment financing to the Black-led developer of Nubian Square Ascends, a mixed-use redevelopment of the Blair Lot, a vacant City-owned parcel in the heart of the Roxbury neighborhood of Boston.
The early-stage financing, partially guaranteed by Mass Development, will support design and other predevelopment work with respect to 5 buildings and 3 open spaces. The site includes a life-science lab space and office space, a cultural hall for performing arts, a marketplace and culinary center, and 15 homeownership units of which 10 will be affordable or income-restricted. In addition, a 300-space parking garage is proposed. Preference for the homes will go to local artists. Read more [+]
Business Owners Purchase Historic Building, Prevent Displacement
Entrepreneurs Nikia Londy and Baron Langston saved their business and four of their retail neighbors from displacement, creating what they like to call the “first Black-owned block in Hyde Park.” As owners of Intriguing Hair, they purchased the building their store is in with subsidy from LISC and the City of Boston, and a below-market purchase price from seller, Historic Boston, Inc.
The acquisition nearly certainly prevented the displacement of the commercial and residential tenants by a market purchase of the building. Instead, the businesses, four of which are black-owned, will stay at affordable rents, 3 of the 4 residential units will be restricted as affordable in perpetuity. The borrower’s business costs will be stabilized long term, and they are positioned to build wealth through real estate ownership. Read more [+]
* Pictured above: Nubian Square Ascends’ rendering of the redevelopment in Roxbury. Nikia Londy & Baron Londy in front of the Vertullo Building in Hyde Park which they purchased. Photo credit: HRI, Inc.
For Your Calendar
Empowering Voices of Groups that Need Housing
in Housing Decisions
New research released this week highlights the lack of diversity on boards and commissions that make housing decisions in Massachusetts communities. In Representation in the Housing Process: Best Practices for Improving Racial Equity, Boston University professors Katherine Levine Einstein and Max Palmer show how starkly the demographics and the views of those who make housing decisions in Massachusetts communities differ from the demographics and views of those most likely to need or benefit from housing.
Released by the Boston Foundation, the report sets forth best practices for more diverse political representation and participation, including extensive outreach, trust building with under-represented groups –centering the voices of those who will benefit from new housing—and the will to hold firm in the face of political backlash from groups that currently dominate the housing process. Download a copy of the report. [+]
In Case You Missed It: Webinar on Affordable Housing and
the Effects of Speculation
In a recent webinar, LISC and partners discussed how speculation fuels evictions and poor housing quality in low-income and BIPOC neighborhoods, and shared organizing and policy strategies to curb speculation and displacement and expand community and tenant ownership as part of a movement toward social housing.
It provides insights useful for communities in Massachusetts and across the country showing links between housing finance and housing justice. Find a recording of the session, slides, and additional readings on how the study quantifies how speculation leads to increased evictions, and how affordable housing protects BIPOC neighborhoods. [+]
Grants for Supportive Housing for Homeless Adults with Disabling Conditions
The Massachusetts Alliance for Supportive Housing (MASH) is accepting applications for those creating permanent supportive housing for adults with disabling conditions experiencing homelessness. Up to $13.5 million will be for predevelopment, acquisition, renovation, or new construction. An additional $2 million will be to build the capacity of organizations developing or operating supportive housing, including activities supporting Minority-Owned Business Enterprises becoming equitable partners. Applications submitted before July 15th will be prioritized. Find more on the MASH-ARPA website [+].
An Online Summer Webinar Series
Is your organization currently developing a new construction housing project? Join Resonant Energy, LISC Boston and the Massachusetts Association of Community Development Corporations (MACDC) for a summer series of free webinars exploring different topics relevant to installing solar for new construction affordable housing projects. These webinars will be useful for developers, architects and other key decision-makers in the construction process.
Webinars are on the second Thursday of the month from 1 pm - 2 pm:
- July 14 - Solar Design for New Construction
Great for Architects and Developers - August 11 - Zoning & Certifications
(including Passive House, BERDO, E+, and more) + a General Recap
Great for Architects and Developers
Register [+]
Watch the recording of the session from June 9th - Solar 101, Financing and Contracting Choices, Video. Great for Developers. [+]
Benefits of Potential Zero Carbon Renovation Fund Shared with Legislators Tour of Salem Development- Press Release
LISC, Massachusetts Climate Action Network, partners, and elected officials visited Preservation of Affordable Housing's Salem Heights, a 281-unit affordable housing property undergoing a deep energy retrofit. Several state legislators jointed the event: Senator John Keenan, Senator Joan Lovely, Representative (Rep.) Michelle Ciccolo, Rep. Tami Gouveia, Rep. Paul Tucker, Rep. Tommy Vitolo, and staff from the offices of Rep. Nika Elugardo and Rep. Christina Minicucci, as well as the Mayor of Salem Kim Driscoll.
Salem Heights is one of the many properties across the Commonwealth whose owners are eager to reduce their carbon emissions, improve the lives of residents, and make their properties climate and financially resilient. The Zero Carbon Renovation Fund would enable at-scale retrofits of affordable housing and other building types most impacted by pollution and the changing climate.
Read more about the tour in the Boston Globe here and join our 140-organizations-strong coalition.
MassCEC Awards Funding for STAR
Thank you Massachusetts Clean Energy Center (MassCEC) for your support of our Solar Technical Assistance Retrofit (STAR) program through the EmPower Massachusetts Program! The Empower Program funding builds upon the Baker-Polito Administration’s ongoing efforts to prioritize Environmental Justice communities while supporting the Commonwealth’s vibrant clean energy industry. Read the press release from MassCEC here. [+]
The STAR program connects multifamily affordable housing developers in Massachusetts to the resources and technical assistance needed to explore the benefits of solar photovoltaic (PV) technology with the aim of helping affordable housing become more healthy and beneficial for residents and more financially and environmentally sustainable.
After more than two years of green workforce research and planning, LISC launched Bridges to Green Jobs in Boston. The first cohort graduated in late May and most have already been placed in jobs with partners. Bridges to Green Jobs is a two-week training program designed to prepare residents of Greater Roxbury for entry-level weatherization technician positions with mission-aligned contractors who support advancing climate action, racial equity, and economic justice. [+]
Let’s Talk About Credit
Boston Builds Credit Launches Public Information Campaign
Boston Builds Credit has opened up a conversation with Bostonians about credit in a big way – through a public information campaign you may have seen on billboards and in MBTA stations. Boston Builds Credit is a citywide initiative that empowers Bostonians to build prime credit scores to increase financial stability, build assets, and create wealth. Created by the United Way of Massachusetts Bay and Merrimack Valley, the City of Boston, & LISC Boston, it offers information and tools like free credit building workshops, financial coaching, & safe credit building products. Visit bostonbuildscredit.org for more [+]
Now is the Moment to Close the Digital Divide in Massachusetts
Don’t miss the release and panel discussion on June 29th on a new report pointing the way forward on digital equity in Massachusetts. Presented by MassINC and the Massachusetts Competitive Partnership, Connecting Communities through Digital Equity: An Action Plan for State, Community, and Private and Institutional Partners explains why and how we must take action now. Register. [+]
Free Financial & Digital Skills Coaching
LISC’s Small Business Initiatives Get a Boost from
The Boston Foundation
The Boston Foundation recently awarded a grant to LISC in support of our small business programs. The grant from the Boston Foundation will support initiatives such as scaling our digital ecosystem model and programming with LISC’s Digital Growth Accelerator, convening ecosystem partners, and supporting our strategic work with the Coalition for an Equitable Economy.
Learn more about LISC's small business programs [+].
Small Business Strong Celebrates 2 Years
Last week, Small Business Strong's Steering Committee celebrated two years of Small Business Strong, which has connected more than 2,400 businesses with free business advice since 2020. Hosted by Yvonne Garcia of State Street and Jim Rooney of the Greater Boston Chamber of Commerce, the Steering Committee gathered in person and were treated to success stories from a few of Small Business Strong's impressive clients and advisors, and remarks from EOHED Secretary and Steering Committee Member Mike Kennealy. [+]
LISC is the Program Manager for Small Business Strong, a non-profit organization that provides expedited, pro-bono support for women and entrepreneurs of color navigating the impact of the COVID-19 pandemic on their businesses.
LISC Offers Capacity Building Grants
LISC invites applications from community development corporations (CDCs) in Massachusetts for organizational capacity building support. Funds will be awarded under the Federal Section 4 Capacity Building program for Community Development and Affordable Housing. Applications will be accepted until 5:00 p.m. on Monday, August 1, 2022.
Priority will be given to applications advancing racial equity and replicable innovation, particularly those proposing to build the capacity of their organizations to advance digital equity, affordable housing in areas with transit access, create vitality and economic opportunity in commercial corridors and build multilingual business support capacity. [Click here to access the Invitation to Apply.]
Mel King Institute Hosts 13th Annual Breakfast
The 13th Annual MKI Breakfast is coming up on June 23rd. Register now to attend the hybrid event: online at in-person at the Lawn on D. The breakfast supports the Institute to provide the programming community development professionals need to build thriving and equitable communities.[+]
