The Massachusetts Development Finance Agency issued tax-exempt bonds totaling $95.5 million for six affordable housing development projects in Boston.
According to MassDevelopment, the commonwealth's finance and development authority, the projects will add 35 affordable units and preserve 533 affordable units in Boston's housing supply.
MassDevelopment issued the bonds on behalf of UW4 Limited Partnership, Trinity Northampton Phase Two Limited Partnership, Mandela Preservation, Madison Botolph II Limited Partnership, Caritas Project Place Cortes LLC and Walnut Washington Apartments.
In addition to the tax-exempt bonds, MassDevelopment assisted the Department of Housing and Community Development with the approval of federal low-income housing tax credits totaling $53 million in equity for the projects.
During fiscal 2014, MassDevelopment financed or managed 314 projects generating investment of more than $2.9 billion in the Massachusetts economy, the agency said in a statement.