6. The Community Builders CDE LLC (Boston, MA) – $25,000,000 NMTC Award

Organization: The Community Builders CDE LLC

Award: The Community Builders CDE LLC received a $25 million allocation in New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund.

Background:

  • Mission: The Community Builders (TCB) is a leading nonprofit real estate developer, owner, and manager. TCB’s mission is to build and sustain strong communities where people of all incomes can achieve their full potential.
  • History: Since its founding in 1964, TCB has been dedicated to transforming neighborhoods, improving economic opportunities, and fostering community stability through high-quality affordable housing and community investments.

Impact:

  • Previous Investments: Over the years, TCB has successfully developed and preserved affordable housing, creating vibrant communities that include access to essential services, retail spaces, and public amenities. They have a proven track record of leveraging NMTCs to finance impactful projects.
  • Community Development: TCB’s projects often include a mix of affordable housing, healthcare facilities, educational institutions, and commercial spaces that serve low-income residents.

Project Focus:

  1. Affordable Housing and Mixed-Use Developments: The $25 million NMTC allocation will support projects that provide affordable housing and integrate community services such as health clinics, educational centers, and retail spaces. These developments aim to revitalize underserved neighborhoods and provide residents with access to essential services.
  2. Economic and Workforce Development: Investments will also focus on creating job opportunities and supporting local businesses, particularly those that can offer career advancement and training programs for community residents.

Significance: The NMTC allocation allows TCB to continue its mission of fostering economic growth and revitalization in low-income communities by providing essential financial support for impactful projects. These investments will drive significant improvements in community infrastructure, economic opportunities, and overall quality of life for residents.