Eastern Bankshares has committed a $68.6 million construction loan to support the 775 Huntington Avenue mixed‑income development in Boston’s Mission Hill neighborhood. The 13‑story building will contain 55 home‑ownership units—27 affordable and 28 market‑rate—alongside 57 affordable rental units, commercial space, and structured parking.
The project is sponsored by Roxbury Tenants of Harvard (RTH) and is designed to deliver a blend of affordable and market‑rate housing while adding commercial amenities to the area. According to the project’s specifications, the building will rise 13 stories, a detail confirmed by the bank’s own disclosure. The development will provide a total of 112 residential units, with a focus on long‑term housing stability for Mission Hill residents.
Eastern Bankshares reported total assets of $30.6 billion as of December 31, 2025, making the $68.6 million loan roughly 0.22 % of its balance sheet. The financing aligns with the bank’s community‑development lending strategy, which emphasizes support for local non‑profits and mixed‑income projects in the Greater Boston area.
"This project allows us to continue serving Mission Hill residents with high‑quality homes and meaningful resident‑centered services. Eastern Bank's deep understanding of community development financing was instrumental in helping us shape a development that brings both rental and homeownership opportunities to families across income levels. Their support strengthens long‑term housing stability and access within our community," said Karen Gately, Executive Director of Roxbury Tenants of Harvard. "775 Huntington Avenue brings together several distinct housing types in one coordinated development, requiring thoughtful structuring and close collaboration. We are proud to support Roxbury Tenants of Harvard in advancing more affordable housing for Mission Hill residents for years to come," added Pam Feingold, Senior Vice President and Group Director of Community Development Lending at Eastern Bankshares.
The loan reinforces Eastern Bankshares’ presence in Boston and demonstrates its commitment to community‑focused development. While the financing represents a modest portion of the bank’s overall assets, it signals continued investment in mixed‑income housing, a key component of the bank’s growth strategy and a tangible benefit to the local community.
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