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Article: Citizens Bank Unveils Affordable Housing Program for New England.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 14, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Chris Reidy, The Boston Globe Knight Ridder/Tribune Business News
Apr. 14--Looking to address a lack of affordable housing, Citizens Bank unveiled what it described as "a first-of-its-kind" program yesterday that will set aside $200 million for below-market-rate loans to nonprofit developers in four New England states. ADVERTISEMENT
The program aims to create at least 1,200 affordable housing units in Massachusetts, Connecticut, New Hampshire, and Rhode Island.
"There is a critical need to provide real affordable housing in Massachusetts," said Thomas Hollister, president and chief executive of Citizens Bank of Massachusetts. "The ...