{"id":982373,"date":"2026-07-16T13:03:02","date_gmt":"2026-07-16T17:03:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/eastern-bank-provides-financing-for-multi-site-affordable-senior-housing-development-project-in-new-hampshire\/"},"modified":"2026-07-16T13:03:02","modified_gmt":"2026-07-16T17:03:02","slug":"eastern-bank-provides-financing-for-multi-site-affordable-senior-housing-development-project-in-new-hampshire","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eastern-bank-provides-financing-for-multi-site-affordable-senior-housing-development-project-in-new-hampshire\/","title":{"rendered":"Eastern Bank Provides Financing For Multi\u2011Site Affordable Senior Housing Development Project In New Hampshire"},"content":{"rendered":"

<\/p>\n

Eastern Bank Provides Financing For Multi\u2011Site Affordable Senior Housing Development Project In New Hampshire<\/b><\/p>\n

The project will preserve 122 affordable senior housing units and create 28 new homes for moderate\u2011income seniors in four communities<\/i><\/p>\n

BOSTON–(BUSINESS WIRE<\/a>)–Eastern Bank<\/b><\/a> is pleased to announce financing for a multi\u2011site affordable senior housing development in four New Hampshire communities\u2014Tamworth, Bethlehem, Manchester and Pelham. Sponsored by Housing Initiatives of New England Corporation, a nonprofit developer and operator of high\u2011quality, affordable senior housing across New England, the financing will support the rehabilitation of 122 affordable senior housing units and construction of 28 new units for moderate\u2011income seniors. Eastern is providing $28.3 million in construction financing and $15.7 million in permanent financing, structured through a tax\u2011exempt bond issuance by New Hampshire Housing and supported by Low-Income Housing Tax Credits.<\/p>\n

\n\u201cEastern Bank\u2019s financing of this project enables the preservation and expansion of affordable senior housing in four New Hampshire communities at a time when access to affordable housing remains a critical need across our region,\u201d said Cyndy Taylor, President of Housing Initiatives of New England. \u201cEach property is unique, and with Eastern Bank\u2019s financial support, we are able to reinvest in them in a coordinated way, ensuring they remain stable, sustainable and affordable for our senior residents well into the future. These transactions are sophisticated, and we sought a banking team experienced in effectively applying a range of resources, from tax-exempt bonds to Low-Income Housing Tax Credits; Eastern Bank\u2019s Community Development Lending team took the time to understand the unique needs of our project and apply their extensive knowledge to create a well-structured financing transaction.\u201d<\/p>\n

\n\u201cBringing together the financing of four properties requires a thoughtful, collaborative approach from start to finish,\u201d said Yongmei Chen, Senior Vice President, Commercial Group Director of Community Development Lending of Eastern Bank. \u201cWe are proud to support Housing Initiatives of New England in advancing affordable housing for seniors in New Hampshire, and to work with New Hampshire Housing to purchase a bond to enable this kind of construction.\u201d<\/p>\n

\nEastern provides a range of community development financing offerings to fund affordable housing development and support the credit needs of nonprofits. Community development lending solutions include construction and real estate financing, working capital lines of credit, multi-layered leverage loans for both New Market and Low-Income Housing Tax Credit projects, tax-exempt bond financing, and highly sophisticated treasury services and deposit products.<\/p>\n

\nThe Community Development Lending team advising this transaction was led by Senior Vice President, Commercial Group Director of Community Development Lending Yongmei Chen and Senior Vice President, Community Development Lending Team Leader Angela Meehan.<\/p>\n

About Eastern Bank
\n
<\/b>Founded in 1818, Eastern Bank is Greater Boston\u2019s leading local bank with more than 125 branch locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of March 31, 2026, Eastern had approximately $30.6 billion in assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management and Private Banking Divisions, which include the largest bank-owned independent investment adviser in Massachusetts with $9.8 billion in assets under management. Eastern takes pride in its advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com<\/a> and follow Eastern on Facebook<\/a>, LinkedIn<\/a> and Instagram<\/a>. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the holding company for Eastern Bank. For investor information, visit investor.easternbank.com<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260716936697\/en\/<\/a><\/span><\/p>\n

Media contact:
\n<\/b>
Andrea Goodman
\n
Eastern Bank
\n
a.goodman@easternbank.com
\n<\/a>
781-598-7847<\/p>\n

Investor contact:
\n<\/b>
Andrew Hersom
\n
Eastern Bankshares, Inc.
\n
a.hersom@easternbank.com
\n<\/a>
617-897-1177<\/p>\n

KEYWORDS:<\/b> United States North America New Hampshire Massachusetts<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Consumer Residential Building & Real Estate Seniors Finance Construction & Property Banking<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Eastern Bank Provides Financing For Multi\u2011Site Affordable Senior Housing Development Project In New Hampshire The project will preserve 122 affordable senior housing units and create 28 new homes for moderate\u2011income seniors in four communities BOSTON–(BUSINESS WIRE)–Eastern Bank is pleased to announce financing for a multi\u2011site affordable senior housing development in four New Hampshire communities\u2014Tamworth, Bethlehem, Manchester and Pelham. Sponsored by Housing Initiatives of New England Corporation, a nonprofit developer and operator of high\u2011quality, affordable senior housing across New England, the financing will support the rehabilitation of 122 affordable senior housing units and construction of 28 new units for moderate\u2011income seniors. Eastern is providing $28.3 million in construction financing and $15.7 million in permanent financing, structured through a tax\u2011exempt bond issuance … <\/p>\n

Continue reading “Eastern Bank Provides Financing For Multi\u2011Site Affordable Senior Housing Development Project In New Hampshire”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-982373","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nEastern Bank Provides Financing For Multi\u2011Site Affordable Senior Housing Development Project In New Hampshire - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eastern-bank-provides-financing-for-multi-site-affordable-senior-housing-development-project-in-new-hampshire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eastern Bank Provides Financing For Multi\u2011Site Affordable Senior Housing Development Project In New Hampshire - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Eastern Bank Provides Financing For Multi\u2011Site Affordable Senior Housing Development Project In New Hampshire The project will preserve 122 affordable senior housing units and create 28 new homes for moderate\u2011income seniors in four communities BOSTON–(BUSINESS WIRE)–Eastern Bank is pleased to announce financing for a multi\u2011site affordable senior housing development in four New Hampshire communities\u2014Tamworth, Bethlehem, Manchester and Pelham. 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