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Ruggles was the first 100% affordable assisted living facility in the Boston metropolitan area. The project involved the expansion and adaptive re-use of a former school building that had been vacant and boarded up for over twelve years. The project is a collaboration between New Atlantic, New Communities Services, Inc., and HEARTH (formerly the Committee to End Elder Homelessness,) with New Atlantic delivering the completed project as turnkey developer to operating partners NCS and Hearth. Financing included a bridge loan and Low-Income Housing Tax Credit equity from Wainwright Bank, HOME and Housing Innovation Fund resources from the Commonwealth of Massachusetts, Leading the Way funds from the City of Boston, AHP funds from the Federal Home Loan Bank, and charitable contributions. The project was designed by ICON architecture, inc. and constructed by CWC Builders, Inc. The project was completes in the fall of 2001. See the FHLB feature on the project. |
