Massachusetts Housing Investment Corporation Appoints Deputy Director of Equity, JP Vachon

 

FOR IMMEDIATE RELEASE

 

Massachusetts Housing Investment Corporation Appoints Deputy Director of Equity

New leader brings extensive experience in equity investing and affordable housing to help drive MHIC’s growth

 

Boston, MA, September 20, 2023 – Massachusetts Housing Investment Corporation (MHIC), an innovative private, non-profit financier in affordable housing and community development in New England, has appointed John-Paul (“JP”) Vachon as Deputy Director of Equity. JP brings extensive affordable housing financing experience, especially in Low Income Housing Tax Credit (LIHTC) equity originations and investment. At MHIC, JP will focus on building relationships with key developers and sponsors to identify new affordable housing construction and rehab projects. Collaborating with the Development and leadership teams, he will drive business strategy, corporate policy, and product development efforts that focus on meeting previously unmet financing needs in the community development marketplace.

 

“We feel fortunate to have someone with JP’s professional experience in real estate lending and capital investments join MHIC at this pivotal time as we seek to expand LIHTC investments in key areas across the region,” said MHIC President and CEO Moddie Turay. “Our exceptional leadership team is excited to welcome JP and to work with him to help create and sustain healthy, equitable communities where people, businesses, and organizations can thrive.”

 

JP will review loan and equity applications and perform credit analyses of financial statements for borrowers, guarantors, general partners, property managers, and general contractors, and prepare loan and investment proposals for presentation to the appropriate governing committee and Board of Directors. He will work closely with MHIC’s Community Investment team, reporting directly to K. Beth O’Donnell, Director of Community Investment.

 

JP has spent the past six years with Key Bank Real Estate Capital as Vice President of Community Development Lending and Investment, where he focused on providing comprehensive financing solutions for affordable housing development clients.

 

“MHIC is doing such important work across New England and has a stellar reputation for integrity and true collaboration with partners,” said JP. “I am excited to join this organization that I admire, and to help expand LIHTC investment in underserved areas across the region, working closely with MHIC’s Community Investment team.

 

JP holds a Master of Business Administration degree with a concentration in finance from Babson College, and a Bachelor of Business Administration degree with a concentration in marketing from George Washington University.

 

###

 

About Massachusetts Housing Investment Corporation

Founded in 1990, MHIC is an innovative private, non-profit financier of affordable housing and community development, providing financing that would not otherwise be available, and extending the impact of that financing to ensure the broadest possible benefit, especially to low-income neighborhoods and communities of color. MHIC has evolved from a Massachusetts-based loan pool to a full-service capital markets platform of debt and equity products serving New England. Supported by an experienced and dedicated staff, MHIC has invested more than $3.2 billion for 658 developments, representing more than 25,500 homes and 6.9 million sq. ft. of commercial space.

Visit https://www.mhic.com/.

 

 

Massport Lends a Hand to Students Returning to School

 

Eastie Pride Day 2023 Piers Park, East Boston

 Eastie Pride Day 2023

Zumix Summer Concerts

 

Secretary of MassDOT Gina Fiandaca and her team visited East Boston Neighborhood Health Center

 

Secretary of MassDOT Gina Fiandaca and her team visited East Boston Neighborhood Health Center on Thursday, June 29, 2023 ahead of the Sumner Tunnel closure to discuss their commitment to keeping medical access intact for our community this summer.

 

During the visit, Sec. Fiandaca toured the recently completed multi-million dollar rebuild of EBNHC’s Emergency Department (ED), supported by state and federal dollars, with capacity to treat 120 patients daily. Earlier this year, state elected officials helped advocate for funds to further invest in the Emergency Department, including external improvements like a new curb cut and widened entranceway for EMTs.

 

The newly completed ED includes expanded clinical space, additional nursing stations, a behavioral health safe room, and enhanced imaging technology so patients no longer need to cross the harbor for state-of-the-art imaging and CT scanning services.

 

 

 

EB Man sentenced to 10 Years in prison for drug trafficking following two-kilogram cocaine deal

 

 

 

 

Additional kilogram of heroin and a high-powered shotgun also seized during search

BOSTON – A Boston man was sentenced yesterday for selling two kilograms of cocaine and possessing nearly one kilogram of heroin as well as a high-powered rifle in East Boston.
    
Carlos Acosta Estrella, 33, was sentenced by U.S. District Court Judge Leo T. Sorokin to 10 years in prison and eight years of supervised release. In September 2022, Estrella pleaded guilty to one count of possession with intent to distribute 500 grams or more of cocaine, one count of possession with intent to distribute 100 grams or more of heroin and one count of possession of a firearm during a drug trafficking offense. Estrella was indicted along with his mother, Ana Guadalupe Acosta Grajeda, in October 2019.

Estrella and Grajeda were arrested after they were videotaped selling two kilograms of cocaine to a cooperating witness in East Boston. A search of Estrella and Grajeda’s apartment in East Boston resulted in the seizure of nearly one kilogram of heroin, an additional kilogram of cocaine, numerous cellphones, a high-powered tactical shotgun with a laser sight and a box of ammunition for the shotgun.

 

 

 

Massport Awards Annual Richards Memorial Scholarship

 

BOSTON – The Massachusetts Port Authority (Massport) has announced the recipient of the annual memorial scholarship honoring the memory of longtime employee Lowell Richards, III. The 2023 Lowell L. Richards III Memorial Scholarship was awarded to East Boston resident Sara Lopez Alvarez.

“Sara’s interest in advocacy, shown through her work as a peer education leader and other positions, embodies the type of student we hoped to reach through this scholarship, in memory of our dear friend and colleague Lowell Richards,” said Massport CEO Lisa Wieland. “We are excited to see what the future holds and wish her the best in all of her future endeavors.”

The Lowell Richards Memorial Scholarship is awarded to a student who resides in the City of Boston, Chelsea, Revere or Winthrop. Richards was responsible for Massport’s strategic and master planning activities, including the airports and the seaport, as well as the agency’s private commercial and residential real estate development in South Boston, East Boston, and Charlestown. Richards joined Massport in 1999 and was previously the Assistant Secretary of Administration and Finance and Chief Development Officer for the Commonwealth and Deputy Mayor for Fiscal Affairs and Collector-Treasurer in the City of Boston.

Lopez is a graduate of the Dana Hall School and will soon attend the College of the Holy Cross. She has volunteered on the Youth Commission with Hebrew College and Teen Empowerment Center, Veronica Robles Cultural Center, the Eastie Environmental Anti Vape/ Marijuana Campaign Committee and as the Peer Education Co-Head at Dana Hall School.

 To be considered for the Lowell Richards Memorial Scholarship, students are required to have a minimum 3.0 grade point average and submit an essay of 1,000 words describing their career interests or how their community service has affected their outlook on life. In her essay, Sara wrote, “I will have the opportunity to learn not only from great professors but also from my classmates and discover the things that interest me, both professionally and personally. To be happy, you must be passionate about your work, and I want to discover this passion.”

 

 

Everett and East Boston Health Center open housing development

 

Mancusi Health Center

 

Overlook Terrance Photo

 

Quadball comes to East Boston

 

EdVestors Announces Over $460,000 in Arts Expansion Grants to Boston Public Schools

 

EdVestors Announces Over $460,000 in Arts Expansion Grants to Boston Public Schools

 

New grants to 65 schools highlight ongoing commitment to expand and ensure equitable access to quality arts instruction

 

 

 

(Full list of grant recipients and photos included at the end)

 

BOSTON (June 1, 2023) – EdVestors awarded over $460,000 in BPS Arts Expansion grants to 65 Boston Public Schools (BPS) to support equitable, quality arts education for the 2023-2024 school year. The citywide, public-private partnership expands and ensures equitable, quality arts instruction for all students. Since its inception in 2009, the initiative has increased the number of BPS students receiving arts education by 17,000 annually while emerging as a national leader in expanding access to arts education.

 

The grants were announced as part of the annual BPS Citywide Arts Festival, which is taking place this week from May 31st to June 2nd on the Boston Common. The three-day event celebrates the artistic talents of BPS students by featuring music, dance, and theatre performances from schools across the district.

 

“Congratulations to all the students who exhibited their artistic talents across the city this week,” said Mary Skipper, Superintendent of Boston Public Schools. “A robust arts education is a key component of a well-rounded curriculum, and these grants will ensure that our students have equitable access to high-quality arts programs. As we continue to recover from the impact of the pandemic, arts play a pivotal role in helping students re-engage with their peers, teachers, and school communities, and improve their social-emotional skill development and overall

well-being.”

 

BPS Arts Expansion brings together local foundations, the school district, arts organizations, higher education institutions, and the Mayor’s Office. These groups, working in tandem with students, families, and school staff, have allowed Boston to emerge as a national leader in expanding quality arts education. BPS Arts Expansion continues to focus on expanding access to equitable arts education and deepening arts experiences, while building systems to sustain a high level of arts education long into the future.

 

“Arts education often gets overlooked, but its importance to the personal, academic and social-emotional development of youth cannot be overstated,” said Marinell Rousmaniere, President and CEO of EdVestors. “Boston has become a national leader in arts learning opportunities, and this progress would not have happened without the enthusiastic support of BPS leadership, the Mayor’s Office, and our committed funders and dedicated partners.”

Core donors to BPS Arts Expansion include The Barr Foundation, The Boston Foundation, Linde Family Foundation, and The Klarman Family Foundation, which helps support this model public-private partnership that funds arts organizations and teaching artists in schools. In addition, Boston Public Schools has committed to over 23 new arts teachers at the high school level as part of the new graduation requirement. More information on BPS Arts Expansion is available at http://www.bpsarts.org.

 

ABOUT EDVESTORS

EdVestors’ mission is to advance equitable, meaningful education that prepares every Boston student to activate their power and shape their future. We drive toward our mission by 1) activating people and resources, 2) learning and iterating in context, and 3) influencing system change. We believe that continuously attending to all three of our drivers ensures our activities will create impact. Since 2002, EdVestors has raised and invested over $42 million in school improvement efforts through EdVestors’ Racial Equity Seed Fund, BPS Arts Expansion, the School on the Move Prize, Zeroing in on Math, and Career Pathways. Learn more at www.edvestors.org.

 

#BPSArts4All   @bpsicreate     @edvestors      http://www.edvestors.org