Eastern Bank Finances $68.6M Mixed-Income Development in Boston’s Mission Hill
Event summary
- Eastern Bank provided $68.6M in construction financing for 775 Huntington Avenue, a 13-story mixed-income residential development in Boston’s Mission Hill.
- The project, sponsored by Roxbury Tenants of Harvard (RTH), will include 55 mixed-income homeownership units (27 affordable, 28 market-rate) and 57 affordable rental units.
- The development also features commercial space and structured parking, with Eastern Bank serving as the lead lender.
- RTH is a resident-controlled nonprofit in Mission Hill, managing over 1,000 housing units and providing extensive resident services.
The big picture
Eastern Bank’s $68.6M financing for 775 Huntington Avenue underscores its commitment to community development lending, a strategic priority as affordable housing demand surges in Boston. The deal highlights the bank’s role in facilitating mixed-income projects, a trend gaining traction as urban areas seek to balance market-rate and affordable housing. With $30.6B in assets as of 2025, Eastern Bank is positioning itself as a key player in financing socially impactful real estate developments.
What we're watching
- Execution Risk
- Whether Eastern Bank can sustain its community development lending momentum amid broader market volatility.
- Market Dynamics
- How the pace of mixed-income developments in Boston affects rental and homeownership demand.
- Strategic Alignment
- How Eastern Bank’s focus on affordable housing aligns with its long-term growth strategy.
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