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Salem's New Point Housing Benefits from Bond Financing

Success Story

MassDevelopment partnered with Eastern Bank to issue an $8.22 million tax-exempt bond to the North Shore Community Development Coalition for the purchase and renovation of three century-old multifamily residential buildings totaling 18 rental units in Salem’s Point neighborhood. Extending the lifespan of these permanently affordable homes ensures that The Point neighborhood remains an accessible place to live for individuals and families.