NeighborWorks Capital purchased a $700,000 participation in an acquisition loan with Coastal Enterprises, Incorporate (CEI) in February. This loan will assist New Height Redfern, LLC (the Borrower) with the purchase of the current site of Mercy Hospital, a major institutional anchor in Portland, Maine that is relocating. New Height Redfern will redevelop the hospital site, which includes 3.5 acres of land and over 250,000 square feet of improvements, into a mixed-use development of apartments, condominiums, a commercial office space (including nonprofit space), and a self-storage facility.
Chief of Consulting
The Chief of Consulting (CC) is a member of the senior management team and has overall responsibility for the startup and buildout of a consulting business focused on the affordable housing and community development industry. The CC will need to be an entrepreneur at heart but also be able to work as part of a team. The CC is a critical strategic partner for the Chief Executive Officer (CEO) and will report directly to the CEO.