Rockland Trust acts as lead financier for a $13.8 million construction loan for ground-up construction of the new 5-story, 48-unit development

July 12, 2019 - Financial Digest
Shown (from left) are: Neighborworks executive director Robert Corley; Rockland Trust Co.
president Gerry Nadeau; Brockton mayor Bill Carpenter; Massachusetts lieutenant governor
Karyn Polito; Rockland Trust commercial loan officer and Neighborworks board chair David Kilnapp.

Brockton, MA Rockland Trust and NeighborWorks Southern Mass were joined by lieutenant governor Karyn Polito and mayor Bill Carpenter to celebrate the groundbreaking of Sycamore on Main, a 100% affordable housing project at 121 Main St. 

Rockland Trust will act as the lead financier for a $13.8 million construction loan to fund ground-up construction of the new five-story, 48-unit development. 

The project was awarded $6.75 million in Low Income Housing Tax Credits (LIHTC) from Hudson Housing Capital and $6 million in state tax credits.