February 19, 2026 – Rockland Trust is proud to help finance the Neighborhood of Affordable Housing’s (NOAH) rehabilitation of 111 affordable housing units in East Boston through an $11.5 million tax-exempt bond facilitated by MassDevelopment. This project will preserve and refurbish income-restricted units (30%-100% AMI)—primarily 2- to 3-bedroom family units—across 29 multi-family properties.
“We are thrilled to be moving forward on the preservation and rehabilitation of these vulnerable, low-income family units,” said Phil Giffee, NOAH’s Executive Director. “This very complex project would not have been possible without the support of our various collaborators, including Rockland Trust, the Mayor’s Office of Housing, MassDevelopment, the Executive Office of Housing and Livable Communities, the Boston Housing Authority, the patience of Community Housing Capital, and expert legal and finance consulting. These were all true partners who share our commitment to the anti-displacement preservation of three-deckers while also helping rehabilitate these older structures within our community. It took amazing collaboration to overcome significant timing and financing issues, but they worked closely with us every step of the way to save these units in our gentrifying neighborhood.”
“Affordable housing is essential to maintaining strong, inclusive communities,” said City of Boston Chief of Housing, Sheila A. Dillon. “This project reflects the dedication and partnership of many advocates and community members who worked tirelessly to bring it forward. NOAH’s preservation and rehabilitation of these homes will improve quality of life, increase energy efficiency, and provide long-term stability for more than 100 households in East Boston. These upgrades will make a meaningful difference for residents today and help preserve affordability for years to come.”
This project brought together public, private, and nonprofit partners to address both the financial and logistical challenges of rehabilitating multiple occupied properties. The cross-sector collaboration and shared commitment played critical roles in making the preservation of these East Boston homes possible.
“Affordable housing preservation has a direct impact on families and neighborhoods,” said Clausius Zorokong, Vice President, Commercial Loan Officer at Rockland Trust. “We’re proud to support NOAH’s efforts to improve the quality, efficiency, and longevity of these homes while ensuring residents can remain in the community they call home.”
