MassDevelopment issued a $17.82 million tax-exempt bond for 2Life Leland LLC, allowing Leland House’s construction in downtown Waltham. The site, formerly the Leland Home, transforms into a three-story, 68-unit affordable rental for seniors. Adhering to Passive House standards, it offers one and two-bedroom units with universal design elements for accessibility.
“Now, as Massachusetts faces a housing shortage, we’re excited to help 2Life Communities build a new senior living community that keeps this legacy alive while also incorporating modern design standards that make for a healthier and more sustainable living experience,” said MassDevelopment president and CEO Dan Rivera.
The ground floor hosts an active Village Center for fitness, wellness, and community events. Federal low-income housing tax credits and Brookline Bank’s support bolstered the project. In FY2022, MassDevelopment financed 356 projects, injecting over $1.69 billion into Massachusetts’ economy, aiding job creation and housing development.