Boston Invests in Growth is a loan pool for large commercial developments, designed to jumpstart well-financed construction projects, create jobs, and strengthen Boston’s economy. The $69 million HUD Section 108 funded loan pool provides financing for the gap that remains between the financing and equity and the total project cost, known as mezzanine financing. In addition, the City of Boston has set aside a percentage of the loan pool for smaller neighborhood based projects of at least 5,000 square feet.

Applicable (large commercial) projects must:

• Be at least 20,000 square-feet
• Have both permanent financing and minimum of 30% equity in place
• Be able to begin construction by June 30, 2009

• Be able to create one full time equivalent job for each $35,000 invested, which must be available to persons of low and moderate income

Applicable (small neighborhood) projects must have:

• Be over 5,000 square feet
• Have both permanent financing and minimum of 30% equity in place
• Be able to begin construction by June 30, 2009
• Be able to create one full time equivalent job for each $35,000 invested, which must be available to persons of low and moderate income

View underwriting criteria

Developers may submit a Letter of Interest to:

Program contact:

Keith Hunt, Assistant Director
Office of Business Development
Department of Neighborhood Development
Phone: 617.635.0418
Email: khunt.dnd@cityofboston.gov