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Spotlight Content
Posted: October 31, 2025
2025 Fall Preview: Yongmei Chen, Eastern Bank
Senior Vice President, Team Leader,
Community Development Lending
Eastern Bank
What trends or shifts do you see shaping your industry this fall and into 2026? The recently approved One Big Beautiful Bill Act enhanced several areas of the Low Income Housing Tax Credit (LIHTC) program. The LIHTC allocation will increase by 12% annually and is targeting $16 Billion in allocation for 2026. I’m anticipating more affordable housing projects will be awarded with the LIHTC allocations and developers will be able to move pipeline projects into construction at a faster pace.
Eastern Bank is also in the process of merging with HarborOne Bank, creating more presence in Rhode Island to continue our work financing affordable, market-rate and other housing there.
What are you most excited about for the future of your sector?Housing production, especially affordable housing production, remains a high priority for the states in Eastern Bank’s footprint. We are seeing a strong pipeline of new construction projects being planned for 2026. With the passing of the Affordable Homes Act in 2024, Massachusetts is leading the way in supporting housing production across the State. The latest report indicated over 90,000 units of housing are planned and/or under construction. I’m excited about the potential opportunity to participate as the financing partner on these kinds of projects in the coming years.
MORE FROM Spotlight Content
Check out the New England Real Estate Journal's 2025 Fall Preview Spotlight
NEREJ’s Fall Preview is Out Now!
Explore our Fall Preview Spotlight, featuring exclusive Q&As with leading commercial real estate professionals and in-depth byline articles on today’s most relevant market topics. Gain insight into the trends, challenges, and opportunities shaping New England’s commercial real estate landscape this fall.
Explore our Fall Preview Spotlight, featuring exclusive Q&As with leading commercial real estate professionals and in-depth byline articles on today’s most relevant market topics. Gain insight into the trends, challenges, and opportunities shaping New England’s commercial real estate landscape this fall.
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