Boston Metro Region
Ruggles Assisted Living
Completed in the fall of 2001, this development transformed an abandoned school into an attractive assisted living facility serving frail elders, eighteen of whom were formerly homeless. Less than a block from Washington Street and Dudley Square, the property is another contributor to the area's revitalization. The nearby shops, businesses and bus terminal provide conventient services for the residents.
PCI provided, in participation with Boston Community Capital, a bridge loan to cover construction costs until the equity proceeds from the sale of the Low Income Housing Tax Credits were received.
PCI Loan Amount: $1,875,000
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