Hospital converts to Mixed-use Development

Share This Post

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.  

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

NeighborWorks Capital Joins Federal Home Loan Bank of Atlanta

NeighborWorks Capital has joined the Federal Home Loan Bank of Atlanta, a cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies that offers competitively-priced financing, as well as affordable housing and community development grants.

Read More »

The Heart and Soul of Affordable Housing in Boulder County, CO

Founded in 1985, Thistle Community Housing is
a non-profit organization and Boulder County’s leading
proponent of permant affordable housing with a mission
to produce, preserve, and protect quality, permanently
affordable rental homes and homeownership opportunities
for moderate and lower-income individuals and families,
seniors, veterans, and people with disabilities.

Read More »