Hudson Valley Property Group Expands Affordable Platform into Boston
Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, acquired Boston Bay and Hope Bay, two adjacent affordable housing properties comprising 133 family units located in the Dorchester neighborhood of Boston. The acquisition marks HVPG’s entry into the Massachusetts affordable housing market and expands its footprint across New England.
The properties, located at 205 Magnolia St. (Boston Bay) and 5 Norwell St. (Hope Bay), consist of 20 buildings across two scattered sites originally constructed between 1890 and 1920. Total project costs are approximately $52.5 million, funded with a Fannie Mae loan provided by KeyBank.
“We are proud to bring HVPG’s preservation platform to Boston and Massachusetts,” said Jason Bordainick, co-founder and managing partner of HVPG. “Boston Bay and Hope Bay represent an opportunity to preserve critical affordable housing in one of the nation’s most supply-constrained markets.”
SVN Affordable | Levental Realty was the exclusive listing broker for the seller. Jamie Renzenbrink and Gene Levental led the transaction on behalf of the firm.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout