As we look back on 2024, we do so with a sense of pride in what proved to be a remarkable year for MHIC. After developing a new strategic plan in 2023, we entered this past year focused on turning that vision into real and measurable progress. What followed was the most impactful year in our organization’s history.
In 2024, we invested a record-breaking $219.6 million across New England. This milestone reflects not only our team’s commitment, but also the strong partnerships that make our work possible. These dollars helped create and preserve housing, support economic growth, and strengthen the places where people live and work.
Our investments included:
- $71.5 million in lending for affordable housing and local development
- $121 million in federal Low-Income Housing Tax Credit (LIHTC) equity
- $24 million through state tax credits, the Healthy Neighborhoods Equity Fund (HNEF), and other innovative initiatives
This same spirit of collaboration was evident in several major milestones. In partnership with MassHousing, we launched the Equitable Developers Fund—a $50 million initiative providing Working Capital Lines of Credit and Standby Letters of Credit to help eliminate long-standing barriers to entry in real estate development. The City of Boston selected MHIC to manage the $25 million Boston Acquisition Fund, aimed at preserving affordable housing and providing lasting stability for families. And through our ongoing commitment to underserved areas, we secured $55 million in New Markets Tax Credits to support economic opportunity where it is needed most.
We also noted the impact of our investment strategy throughout the region. In Pawtucket, Rhode Island, Dexter Street Commons is bringing 150 new homes to an area experiencing increased revitalization. In Worcester, we broke ground on the first phase of Curtis Apartments, marking our largest single-asset investment to date, preserving 129 affordable homes.
Each of these moments, and many others throughout the year, serve as powerful reminders of why this work matters. When we lead with purpose, we create lasting change.
Thank you for your trust, support, and shared commitment to our mission. We look forward to building on this momentum in the year ahead.
Warmly,


Elizabeth Gruber
Board Chair

Moddie Turay
President & CEO