MassDevelopment

Fairhaven's The Nemasket Group Expands Thanks to MassDevelopment Bond

June 29, 2016


FOR IMMEDIATE RELEASE

Contacts:
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077 (cell)
kabbruzzese@massdevelopment.com

Dustin Green, The Nemasket Group, Inc., 508-999-4436
dustingreen@nemasketgroup.org

MassDevelopment has issued a $1,725,000 bond on behalf of The Nemasket Group, Inc., a Fairhaven organization that supports families and individuals with disabilities, to increase administrative, meeting and training space. The organization is using bond proceeds to buy and renovate 11,000 square feet of commercial and office condominium space for its new locations in the Pines Condominiums at 107 and 109 Fairhaven Road in Mattapoisett. The Nemasket Group will also use funds to buy new equipment and furniture, and to refinance previous bank debt incurred to acquire and renovate two community residences. BayCoast Bank purchased the bond.

“This bond will allow The Nemasket Group to grow its resources and expand its operations in Bristol County,” said MassDevelopment President and CEO Marty Jones. “We are proud to support the organization’s ongoing efforts to assist and advocate for individuals living with disabilities, their families and their communities.”
 
The Nemasket Group Inc. is a nonprofit that offers support for families and individuals with disabilities to live, work, and develop relationships in their communities.  The organization’s goal is to provide individuals with disabilities the skills necessary to participate in their communities with maximum independence and dignity. The organization offers supported employment services; community-based day support; self-directed services; transition, advocacy and support to families; community living and residential support; and educational training and support.

“This is an exciting time for The Nemasket Group, and we are thankful to MassDevelopment, BayCoast Bank and others that helped us secure financing for this project,” said The Nemasket Group Executive Director Dustin Green. “We look forward to moving our offices to the Pines in Mattapoisett in the coming months, and hope that one day we will realize our vision for the future: individuals leading successful lives that are rich with meaningful roles.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2015, MassDevelopment financed or managed 294 projects generating investment of more than $2.5 billion in the Massachusetts economy. These projects are projected to create about 6,100 jobs and build or rehabilitate about 2,000 residential units.