08/24/2020
Citizens Finances Award-Winning Affordable Housing Development in Boston
PROVIDENCE, RI — Citizens Financial Group (NYSE: CFG) announced today that Flat Nine at Whittier, the redevelopment of the former Whittier Street Apartments in Boston, is a 2020 recipient of the Affordable Housing Tax Credit Coalition’s Charles L. Edson Tax Credit Excellence Award. The award recognizes affordable housing developments and organizations that have demonstrated especially impactful use of the Low-Income Housing Tax Credit.
Developed by Preservation of Affordable Housing and Madison Park Development Corporation and with syndication provided by the National Affordable Housing Trust, Citizens helped finance the construction of 92 new units of affordable housing on the property, which is located near Ruggles Station and Boston Police Headquarters. Once the full redevelopment is complete, the Whittier site will provide a total of 350 homes and commercial space.
“The Housing Credit continues to spur development of affordable homes that go above and beyond for the families they serve,” said AHTCC Executive Director Emily Cadik. “The Edson Award winners this year demonstrate how innovative and high-quality affordable housing can transform communities and help meet the need for education, child care, health care and other services vital to a community’s support system for at-risk families and individuals.”
“Flat Nine at Whittier meets an important need in our community and demonstrates Citizens’ strong commitment to support more affordable housing options for Massachusetts residents,” said Jerry Sargent, President of Citizens Bank, Massachusetts, and Head of the Northeast.
For more information about Citizens’ community efforts and to view the bank’s most recent Corporate Responsibility report, visit here.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $179.9 billion in assets as of June 30, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
