MHIC Investors

MHIC Investors

Our mission-driven investors have collectively committed over $2.15 billion to finance affordable housing and community development.

The cumulative commitments of our investor partners as of December 31, 2023, are shown below.

Affordable Housing

117 Union Street

New Bedford, MA

The project involves the creation of 45 units of mixed-income rental housing for families and individuals through the adaptive reuse of a historic building and new construction of a 5-story building on a vacant parcel.

IMpact
Affordable Housing Creation: new construction of 32 units of affordable housing and 13 units of moderate/workforce housing; Downtown Revitalization: the project will complement other recent initiatives in downtown New Bedford, such as streetscape improvements, private redevelopment of historic structures, and other planned investments in New Bedford, including the new commuter rail station that is currently under construction.
Affordable Housing

135 Dudley

Boston, MA

Development of a City-owned site in the heart of Nubian Square into two mixed-use and mixed-income buildings containing 170 market and affordable housing units, commercial space and parking garage. The buildings will be located along a newly constructed plaza with improved pedestrian access linking the site to the adjacent Boston Public Library and Boys and Girls Club.

IMpact
Affordable Housing Creation; Neighborhood Revitalization
Healthy Communities

500 Talbot Avenue

Boston, MA

500 Talbot Avenue is a new transit-oriented development. This project will create 42 units of mixed-income housing and two ground floor retail spaces.

IMpact
Affordable Housing Creation: 15 new Workforce Housing Units; Implementing Community Vision
Healthy Communities

About Fresh

Boston, MA

About Fresh is developing a new South Boston headquarters to facilitate further growth of its Fresh Truck and Fresh Connect programs. Their new headquarters and warehouse will provide ample space for the new employees required to expand Fresh Truck and Fresh Connect to serve more people and families. Additionally, the new space will increase the capacity of About Fresh’s warehouse to better meet the needs of its Fresh Truck program, while remaining near its mobile market locations.

IMpact
Visibility and healthy produce awareness; affordable healthy food access; addresses food insecurity within community.
Affordable Housing

Agawam Village

Ipswich, MA

The Agawam Village project involves the rehabilitation and modernization of seven residential buildings originally constructed in 1979 containing a total of 94 units. Three of the buildings contain a total of 14 family townhouse style units and four of the buildings contain 80 total units dedicated to senior households.

IMpact
Affordable housing preservation: 91 affordable housing units are being modernized, 80 of which serve senior/elderly population.
Affordable Housing

Amethyst Brook Apartments

Pelham, MA

The Amethyst Brook Apartments project includes the creation of 34 units of low-income rental housing for families and individuals through the new construction of two buildings.

IMpact
Affordable Housing Creation: new construction of 34 units of affordable housing.
Affordable Housing

Anchor Point II

Beverly, MA

Anchor Point II is the new construction of a 39-unit building. It is the second phase of the larger Anchor Point project that also includes the 38-unit Phase 1 rental building and an adjacent Community & Wellness Center.

IMpact
Affordable housing creation: 39 new family units
Healthy Communities

Community MusicWorks Center

Providence, RI

The Community MusicWorks Center is a new 24,000 square foot facility that will host Community MusicWorks’ award-winning free after-school music programming.

IMpact
Community Services and Enhanced Education Outcomes; Neighborhood Revitalization & Community Engagement
Affordable Housing

Cruz DC New Bedford Acquisitions

New Bedford, MA

Cruz Development Corporation (“Cruz DC”) acquired four vacant parcels in order to develop an 87-unit, scattered site, single LIHTC project. Three of the properties are improved by historic structures and one is a blighted vacant parcel of land.

IMpact
Affordable Housing Creation: 65 apartments affordable to households earning between 30% AMI and 80% AMI; Neighborhood Revitalization: The project will rehabilitate three vacant historic structures.
Affordable Housing

Elizabeth Brook Apartments

Stow, MA

The Elizabeth Brook Apartments project includes the renovation of an existing 50 units of affordable elderly housing in six 2-story walkup residential buildings and a 1-story clubhouse building developed in 1983. The project also includes a two-bedroom free-standing, 1-story single family home built in 1915 that will also be renovated. In addition, 37 units will be newly constructed in one 3-story elevator building with common areas.

IMpact
Affordable Housing Creation: The preservation of 50 units and the creation of 38 units of restricted affordable rental housing for elderly households aged 62+ with incomes at or below 60% of AMI.
Healthy Communities

Fair Haven Community Health Care

New Haven, CT

The Fair Haven Community Health Care project includes the construction of a new 33,700 square foot community health center facility for Fair Haven Community Health Clinic.

IMpact
Economic Opportunity: Creating 50-60 jobs, all above living wages with benefits; Enhancing Health Outcomes: Capacity to serve 5,600 more patient visits annually.
Affordable Housing

Fitchburg Arts Community

Fitchburg, MA

The Fitchburg Arts Community project involves the creation of 68 units of mixed-income rental housing for families and individuals with a preference for artists, plus community gallery space and artist studio space. The development involves the adaptive reuse of three historic buildings adjacent to the Fitchburg Arts Museum and will create an arts-focused campus.

IMpact
Affordable Housing Creation: 68 new mixed-income housing units; Implementing Community Vision and Neighborhood Revitalization: Fitchburg Artists Community is part of a larger downtown revitalization plan driven by a partnership of residents, businesses, and public officials called ReImagine North of Main.
Affordable Housing

LeClair Village

Mashpee, MA

LeClair Village will create 39 units of affordable family housing in three newly constructed buildings. The project is led by the Preservation of Affordable Housing in partnership with Housing Assistance Corporation.

IMpact
Affordable Housing Creation: 39 affordable apartments are being created with eight units restricted to households earning at or below 30% of AMI and 31 units restricted to households earning at or below 60% of AMI.
Affordable Housing

Merrimack Corner

Haverhill, MA

Merrimack Corner is the new construction of 48 units of affordable rental housing for seniors. The development will include a newly constructed 5-story building on vacant land adjacent to the existing Merrivista property, a senior residential building owned by Bethany Community Services.

IMpact
Affordable Housing Creation: 48 new affordable rental housing units for seniors.
Healthy Communities

NorthStar Learning Center

New Bedford, MA

NorthStar Learning Center is a 17,500 square foot state-of-the-art early education and community center. The Center is designed to serve young children with a range of developmental needs. The new building will eliminate two outdated, cramped facilities, and nearly double current enrollment capacity.

IMpact
Economic Opportunity: 93% increase in infant, toddler, and preschool child-care spaces for low-income families who need this resource to continue working, to find work, and/or to increase job skills; Community Service or Facilities: The project provides a new, state-of-the-art early education and care center that incorporates community spaces and programming for entrepreneurs, artists, gardeners, teachers, children and families.
Healthy Communities

Northampton Residences

Boston, MA

Northampton Residences is a new transit-oriented development located in the Lower Roxbury neighborhood of Boston. This development will result in the creation of 47 affordable homeownership condominiums available to households earning up to 100% of the Area Median Income.

IMpact
Affordable Housing: Creation of 47 homeownership units for households earning at or below 100% of AMI.
Affordable Housing

Prospect Estates Resyndication

Webster, MA

The Prospect Estates Resyndication project involves the historic rehabilitation of two mid-rise multifamily buildings. The development will preserve 25 units of affordable housing.

IMpact
Affordable Housing Preservation: 25 units of housing for 30% AMI, 50% AMI, and 60% AMI households.
Affordable Housing

Rosewood Way

Agawam, MA

The Rosewood Way project comprises the new construction of 10 townhome-style buildings containing 62 units, and a standalone community building. The project will increase the supply of affordable and mixed-income housing in a suburban area with a high demand for affordable rental housing, but limited affordable housing stock.

IMpact
Affordable Housing Creation: 47 LIHTC and 10 workforce units.
Racial Equity & Inclusion

UTEC Woodworking Social Enterprise Center

Lowell, MA

The United Teen Equality Center (UTEC) Woodworking Center will expand UTEC’s Woodworking Social Enterprise program. This highly successful job training program helps transform the lives of youth ages 17-25 who are out of school and have been involved with gangs or are returning from incarceration. The project will renovate and fit out two buildings into classroom and additional program space and allow UTEC to purchase additional specialized equipment.

IMpact
Community Impact: Increase the number of proven-risk young adults that UTEC can serve in its transformative social enterprise program by 179% and better serve those young adults.
Affordable Housing

Van der Heyden

Springfield, MA

The Van Der Heyden project involves the preservation of a single high rise multifamily building containing 45 units.

IMpact
Affordable Housing Preservation: 45 units of housing for very- and extremely-low-income households.
Affordable Housing

Village at Park River Phase V

Hartford, CT

Village at Park River Phase V includes the new construction of 58 units of affordable and market rate housing. The project is one phase of a six-phase development that includes the overall new construction of over 400 homes.

IMpact
Affordable housing creation: 58 mixed-income units (46 affordable); Neighborhood revitalization: redevelopment of Westbrook Village.
Affordable Housing

Whipple Real Estate, LLC

Haverhill, MA

Acquisition financing for a 6-unit multifamily property. All the units are large 1-bedroom,1-bathroom apartments with below market rents. Two of the units will be reserved for tenants with Section 8 vouchers.

IMpact
Affordable Housing; Strengthening Minority Businesses
Healthy Communities

Yellow Barn Business Accelerator

Hardwick, VT

The Yellow Barn Business Accelerator is the culmination of a six-year effort spearheaded by the Town of Hardwick and the project sponsors. The town purchased the iconic “Yellow Barn” and the 4-acre site in 2019 to repurpose for economic development. The core mission of the project is to strengthen the regional farm- and food-based economy by supporting the growth of agricultural businesses, promoting development of new products, and increasing export to external markets. The 6,172 square foot historic barn, which is listed on the state’s historic register, also will be preserved and renovated into a retail destination by Cabot Creamery for its signature cheeses and to showcase other local agricultural products.

IMpact
Downtown Revitalization; Economic Opportunity; Community Services and Facilities; Implementing Community Vision

Freddie Mac

US Bank

M&T Bank

Fannie Mae

Institution for Savings

Santander Bank

Wells Fargo Community Lending & Investment

The Northern Trust Corporation

Chase Bank

Rockland Trust Company

UnitedHealth Group

Brookline Bank

AEGON USA Realty Advisors, Inc.

Cambridge Savings Bank

Capital One

Berkshire Bank

TransCapital

Cathay Bank

BNY Mellon

Citibank

WICOR America Inc.

Middlesex Savings Bank

People’s Bank

East West Bank

Cambridge Trust Company

PNC Bank

Federal Home Loan Bank – Boston

Avidia Bank

Citizens Bank

Kresge Foundation

HarborOne Bank

Webster Community Development Corporation

Pelham Corporation

Mass General Brigham Incorporated

The Boston Foundation

Boston Medical Center

Commonwealth of Massachusetts

Dana Farber

LendingClub Bank National Association

Milford Federal Bank

Needham Bank

Newton Community Development Foundation

Enterprise Bank and Trust Company

NJ Enterprises, Limited Partnership

Bangor Savings Bank

Tufts Health Plan Foundation, Inc.

BankFive

Private Investor

Conservation Law Foundation

Neighborhood Health Plan of Rhode Island

Blue Cross & Blue Shield of Rhode Island

Salem Five