Leggat McCall has secured a $122 million loan for the redevelopment of the Bunker Hill project in Boston. This financing will support the transformation of the area, aiming to enhance its economic and community value.
โThis funding infusion catapults the construction start of our second building forward and allows for the continued momentum of delivering 2,699 critical, high quality, and sustainable market-rate and ...โ
The financing supports the construction of Building F, a nine-story, mixed-income development with 208 market-rate and 58 affordable units, as part of a $1.4 billion master plan to redevelop the Bunker Hill public housing community.
This project signals a strong commitment to urban redevelopment and mixed-income housing, which could attract further institutional investment in similar projects across urban markets.
Rising interest rates
HighConsider locking in current rates or exploring alternative financing options.
Construction cost overruns
MediumImplement strict project management and cost control measures.
Regulatory changes
MediumMaintain close communication with local authorities and stay informed on policy developments.
Connect CRE reports on the closing of a $122 million loan for the Bunker Hill redevelopment in Boston. The project, led by Leggat McCall and Joseph J. Corcoran Company, involves constructing a nine-story mixed-income building with 208 market-rate and 58 affordable units. The City of Boston's Housing Accelerator Fund contributed $50 million in equity. The project is part of a larger $1.4 billion plan to redevelop the Bunker Hill public housing community, aiming to create 2,699 units over the next decade.
This source provides a comprehensive overview of the project's financing structure and its significance in the context of urban redevelopment.
Bisnow highlights the $122 million loan secured by Leggat McCall for the Bunker Hill redevelopment. The project includes Building F, which will feature 266 units and is part of a $1.4 billion master plan. The City of Boston contributed $50 million in equity, and the construction is expected to cost $176.2 million and take 18 months. The project aims to replace existing public housing with a mix of market-rate and affordable units.
This source emphasizes the project's scale and the innovative construction techniques, providing insights into the broader implications for urban housing markets.
The Boston Housing Authority outlines the partnership with Leggat McCall and Joseph J. Corcoran Company for the Bunker Hill redevelopment. The project involves a public-private partnership to create 2,699 units, replacing existing public housing with a mix of market-rate and affordable units. The City of Boston's Housing Accelerator Fund plays a crucial role in financing, and the project aims to use sustainable construction methods.
This source provides detailed information on the project's public-private partnership model and its focus on sustainability and affordability.
Banker & Tradesman reports on the $122 million loan from Cottonwood Group for the Bunker Hill redevelopment. The project is part of a larger effort to transform the Charlestown neighborhood with 2,699 units. The City of Boston contributed $50 million in equity, and the project aims to use innovative construction techniques. The loan is part of Cottonwood's initiative to provide impact-driven capital for housing projects.
This source highlights the strategic importance of Cottonwood's involvement and its focus on impact-driven capital, offering insights into the financing landscape for urban redevelopment projects.
The project will catalyze further investment in urban redevelopment and mixed-income housing.
connectcre.com, bisnow.com
On April 6, 2026, Leggat McCall secured a $122 million loan for the Bunker Hill redevelopment. The project, which includes Building F, is part of a decade-long plan to create 2,699 units. The City of Boston contributed $50 million in equity, and construction is expected to complete in 18 months [connectcre.com] [bisnow.com].
End of Intelligence Report ยท 5 Sources Verified