Clocktower Tax Credits is proud to help finance projects that make a significant impact on a community. One in particular is Howard House, a historic renovation and adaptive re-use of the former Howard Home located on the Brockton VA Medical Center in Brockton, MA. Clocktower brokered the sale of $1,000,000 in Massachusetts Historic Rehabilitation tax credits, providing equity necessary to finance this important project.
The home was transformed into a permanent supportive housing community for formerly homeless Veterans. The residence features fourteen, fully furnished efficiency apartments along with community space. Supportive services will be available to residents to increase their economic self-sufficiency and well-being. Veterans who want to stay at the Howard House sign a lease and pay 30% of their income for rent, receiving subsidies for the balance. The residents are welcome to stay there as long as it’s beneficial to their well-being.
The project is one in a series of developments initiated by the US Veterans Administration to use the campus of VA Hospitals nationwide to provide housing at the same location where there is a Veterans healthcare facility. The former Howard Home for the Aged provided a natural opportunity to convert this underutilized office facility into much needed housing, giving residents easy access to services and medical care. The VA and its partners have made a major effort over the past five years to end homelessness for Veterans and as a result, they have reduced the number of homeless Veterans by half.
This project is the result of a successful public private partnership in Massachusetts to create affordable housing for Veterans. Kudos to the developers who made this project happen: Affordable Housing and Services Collaborative, Inc., Peabody Properties, Inc. and Windover Construction, LLC.
For more information, please contact Sue Ellyn Idelson at (978) 793-9574 or Sidelson@clocktowertc.com.