NEWS HEADLINES

Boston Capital Invests in New York Project

By Donna Kimura

Boston Capital is investing in Lafayette Manor, a 60-unit seniors development that will be built in Staten Island, N.Y.

The five-story project will include 24 studios, 35 one-bedroom apartments, and one manager’s unit. The apartments will serve residents 62 years and older at 50 percent of the area median income.

Six units will be fully accessible to people with disabilities when the project opens.

The general partner in the Sec. 202 development is Lafayette Manor GP, Inc., a for-profit subsidiary of The Sisters of Charity of St. Vincent de Paul of New York.

Boston Capital is providing $5.6 million in low-income housing tax credit equity.