New England Women in Real Estate (NEWiRE) honored Krokidas & Bluestein attorney Kathryn Cochrane Murphy at its Annual Achievement Awards dinner as one of nine NEWiRE members who played key roles in the New Markets Tax Credit (NMTC) financing of the new Dudley Municipal Center, a $119 million LEED Silver Certified building being developed by the city in the Roxbury neighborhood. Murphy is one of nine members receiving the Networking Award, that recognizes the collaboration among area real estate professionals championed by NEWiRE.
Attorney Murphy acted as real estate counsel to the City of Boston and its affiliated nonprofit entities, Dudley Square Realty Corp. and Ferdinand Building Development Corp. She assisted the team in closing a $40.8 million NMTC financing, which partially funded the 215,000 s/f mixed-use building that will be the new home for the offices of the Boston Public Schools. She provided counsel with respect to permitting and assisted with the preparation and negotiation of loan and leasing documents for the financing.
"We are delighted that NEWiRE recognized the team spirit that characterized the Dudley Municipal Center project, and are proud of our partner, Kathy Murphy, for her significant role in this transaction" said Maria Krokidas, managing partner of Krokidas & Bluestein.
The Dudley Municipal Center will be a catalyst for continued redevelopment in Dudley Sq. The Dudley Municipal Center building restores the facades of the former Ferdinand Furniture building, the Curtis Block, and the Waterman & Sons building, and will serve as the new headquarters for Boston Public Schools. It will house over 500 employees, as well as 20,000 s/f of street-level retail and open spaces to showcase student work, school events. The center will host community gatherings and is one of mayor Menino's highest priority projects.
"I am honored to be part of the team receiving the Networking Award from NEWiRE this evening," said Murphy. "It is an even greater honor to play a role in a project that will bring this historically vibrant neighborhood back to life for residents, businesses, and community neighbors in Roxbury and beyond."
Krokidas & Bluestein provides legal services in the areas of public, non-profit and for-profit general corporate law, health and education law, real estate development, finance and property management, public and private civil litigation, labor and employment law, and social services law. The firm is staffed by 18 attorneys, over half of whom are women, and is certified by the Commonwealth of Massachusetts Executive Office for Administration and Finance Supplier Diversity Office (SDO) as a woman-owned business enterprise.