The Schochet Companies > News > Press Releases

Schochet Press Releases

INNOVATIVE FINANCING PRESERVES AND REHABILITATES AFFORDABLE HOUSING IN BOSTON’S BACK BAY Published last month
Public officials and executives of Retirement Housing Foundation (RHF) and the Schochet Companies recently celebrated the completed rehabilitation of Symphony Plaza, one of the only affordable housing communities for low-income seniors and persons with disabilities in Boston’s Back Bay area. The 403-unit elderly community is comprised of 188 units in Symphony East and 215 units in Symphony West including 116 studios, 260 one-bedroom and 28 two-bedroom elderly housing units. The property’s two buildings, one 14 stories, and the other 16 stories, were constructed in 1980 as two developments formerly known as Symphony Plaza East and Symphony Plaza West. The owner, RHF of Long Beach, CA, recently refinanced and performed moderate rehabilitation work to modernize the property and comply with current code standards. Rehabilitation work included fire and safety code upgrades and improvements, major building systems improvements such as window replacements, exterior skin improvements which included waterproofing and stabilization, interior and exterior common area improvements, handicapped accessibility improvements, and selected unit modernization improvements. The Development was financed by a creative combination of resources provided by Mass Housing, the Massachusetts Department of Housing ...
read more >
KING JAMES COURT AND PINE CREST APARTMENTS CELEBRATE PRESERVATION AND REHABILITATION PROJECT Published last month
Retirement Housing Foundation (RHF) and the Schochet Companies recently celebrated the refinancing and long-term preservation as affordable of King James Court and Pine Crest Apartments comprised of 234 elderly and family affordable apartments in Orange, Massachusetts. The transaction will also enable an extensive $8 million capital improvement program, which began this spring. King James Court is an elderly property with 100% of the 120 units subsidized under Project Based Section 8. Pine Crest is a family property with 114 units subsidized by a combination of Massachusetts rental vouchers, project-based vouchers, and Section 236. In the combined project there are 138 one-bedroom units, 72 two-bedroom units, 18 three-bedroom units, and 6 four-bedroom units. The Schochet Companies manages the property for RHF, a faith-based non-profit. The two companies undertook this refinancing and rehabilitation project to ensure that the property is preserved indefinitely as an affordable housing asset. To accomplish these goals, the transaction was financed with a mix of tax-exempt bond financing from MassHousing, 4% low income housing tax credits, a Massachusetts Department of Housing and a Community Development loan from the ...
read more >
RHF and Schochet Companies Preserve Symphony Towers in $136 Million Transaction. Published last year
BOSTON – February 12 2018 – MassHousing has provided a total of $135.5 million in financing to an affiliate of the non-profit Retirement Housing Foundation (RHF), to enable RHF to launch a major renovation of the 404-unit Symphony Plaza in Boston, and extend affordability at the property for at least 30 years. The Symphony Plaza refinancing was completed through the Federal Housing Administration’s Housing Tax Credit Pilot Program. The Tax Credit Pilot Program allows borrowers to utilize federal Low-Income Housing Tax Credits (LIHTC) in combination with an affordable fast-track mortgage product insured by the Federal Housing Administration (FHA). MassHousing is the only state housing finance agency in the country among 52 FHA-approved Tax Credit Pilot Program lenders. “This is an important transaction for the low-income seniors living at Symphony Plaza, who will continue to live affordably in Boston’s Back Bay, while benefitting from major property improvements,” said MassHousing Acting Executive Director Tom Lyons. “MassHousing delivers on our mission of confronting the housing challenges facing the Commonwealth to improve the lives of its people, by offering a broad range of tools that ...
read more >
CBRE/NE Press Release Published 2 years ago
Boston – June 1ST, 2017 – CBRE/New England’s Capital Markets team today announced the sale of Glen Meadow, a 288-garden style apartment community located in Franklin, Massachusetts for $51.1million. CBRE’s multi-housing experts Simon Butler and Biria St. John exclusively represented the seller and procured the buyer, Glen Meadow Owner, LLC, a joint venture between The Schochet Companies and Rose Affordable Housing Preservation Fund IV, an affiliate of Jonathan Rose Companies. “We are pleased to have facilitated the sale of Glen Meadow on behalf of our client who acquired the community in 2000 as part of a larger portfolio acquisition said CBRE/NE’s Butler.” The sale marked the successful conclusion to an investment that yielded strong results for the seller, while at the same time offering the buyer strong yields on a good forward basis and the potential for a value-add execution.” Glen Meadow was built in 1971 and is comprised of eight two-story garden style buildings. The community consists of 288 apartment homes containing 88 one-bedroom and 200 two-bedroom townhouses with an average size of 907 square feet. The community is located ...
read more >
Press Release - Shepherd Park and Capitol Towers Celebrate RHF’s 55 years of Affordable Housing in Hartford, CT Published 2 years ago
Shepherd Park and Capitol Towers will be jointly celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Friday June 9th 2017 at 11:00 AM. Capitol Towers, 144-units and Shepherd Park, 363-unit, affordable housing communities for seniors and individuals with disabilities, are located in Hartford, Connecticut and both are part of the RHF organization. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Shepherd Park and Capitol Towers and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay R. Schochet more than forty years ago. Since that time the company has developed, owned, and/or managed in excess of 7,000 apartments, the bulk of which are affordable, and over 600,000 square feet of retail and commercial space throughout New England ...
read more >
Press Release - Riverside Village Celebrates RHF’s 55 years of Affordable Housing in Leominster, MA Published 2 years ago
Riverside Village will be celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Thursday June 8th 2017 at 4:00 PM. Riverside Village, located at 24 State Street, Leominster, is a 312-unit, affordable housing community for families and is part of the RHF organization. Residents of this family development benefit from a variety of programs, including classes in cooking, computer skills, parenting, money management, English as a Second Language and résumé writing. There are also several affiliate programs for children and teens through The Boys and Girls Club, The Spanish American Center, Mount Wachusett Community College and The United Way Youth Venture. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Riverside Village and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management ...
read more >
Press Release - Seabury Heights Celebrates RHF’s 55 years of Affordable Housing in Worcester, MA Published 2 years ago
Seabury Heights will be celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Thursday June 8th 2017 at 11:00 AM. Seabury Heights, an RHF community, located at 240-244 Belmont Street, Worcester, is a 302-unit, affordable housing community for older adults and people with disabilities. Seabury Heights is located next to lovely Bell Pond and offers beautiful views of the city in all directions. Seabury Heights offers a variety of programs and services to keep our population of older adults and residents with disabilities active and engaged. We are proud to provide safe, affordable housing for our residents, who are increasingly aging in place. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Seabury Heights and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development ...
read more >
Press Release - Douglas House and Hamilton Wade Celebrate RHF’s 55 years of Affordable Housing in Brockton, MA Published 2 years ago
Douglas House and Hamilton Wade will be jointly celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Wednesday June 7th 2017 at 4:00 PM. Hamilton Wade and Douglas House, located at 20 Haverhill Street is a 242-unit, affordable housing community for seniors and individuals with disabilities and part of the RHF organization. On a sunny day, you may find the residents lounging on the gazebo, or on one of the many benches on the property, or you may find them enjoying the attractively landscaped grounds from the spacious solarium. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Douglas House and Hamilton Wade and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay R. Schochet more than forty ...
read more >
Symphony East and West, Stearns and Mason Place Celebrate RHF’s 55 years of Affordable Housing in Boston, MA Published 2 years ago
Symphony East and West, Stearns and Mason Place will be jointly celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Wednesday June 7th 2017 at 11:00 AM. Symphony Plaza East and West (404 elderly apartments at 333 and 334 Massachusetts Avenue), The Stearns Building (140 elderly apartments at 10 Temple Place), and 80 Mason Street (127 elderly apartments on Avery Street) are affordable housing communities and part of the RHF organization. Each of these communities enjoys the benefits of their Back Bay and Downtown locactions such as strong neighborhood agency connections, diversity, and consistent occupancy. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Symphony East and West, Stearns and Mason Place and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management ...
read more >
Binnall House Celebrates RHF’s 55 years of Affordable Housing in Gardner, MA Published 2 years ago
Binnall House will be celebrating the 55th Anniversary of Retirement Housing Foundation (RHF), its sponsoring organization on Tuesday June 6th 2017 at 11:00 AM. Binnall House, located at 125 Connors Street is a 134-unit, affordable housing community for seniors and part of the RHF organization. With its convenient location, Binnall House is a preferred choice for seniors in the community and has a very active resident population. To keep their residents busy, there are an abundance of programs available, but on a sunny day, you can usually find a group of residents sitting outside on the many benches surrounding the site. About Retirement Housing Foundation RHF was started by two clergymen from the United Church of Christ and a layperson who, with $7,000, started with a dream that has grown to include Binnall House and 184 other communities throughout the United States, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, serving more than 20,500 older adults, persons with disabilities, and low income families. About the Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay ...
read more >
MassHousing Press Release Published 2 years ago
MassHousing is the first Housing Finance Agency to complete a transaction using the Federal Housing Administration’s Housing Tax Credit Pilot Program BOSTON – May 30, 2017 – MassHousing has provided $9.25 million in financing to an affiliate of the non-profit Retirement Housing Foundation (RHF) for the preservation and renovation of 134 units of affordable housing at Binnall House in Gardner. Binnall House is home to senior citizens and residents with disabilities, who will see the affordability of their units extended for at least 15 years. The Binnall House refinancing is the first in the country in which a Housing Finance Agency (HFA) has completed a transaction through the Federal Housing Administration’s Housing Tax Credit Pilot Program. The Tax Credit Pilot Program allows borrowers to utilize federal low-income housing tax credits and an affordable fast-track mortgage product insured by the Federal Housing Administration (FHA). MassHousing is also the only HFA among 52 FHA-approved Tax Credit Pilot Program lenders. “We are committed to offering the development community innovative financial products that preserve much-needed affordable housing, while improving the lives of Massachusetts residents,” ...
read more >
IREM REME Press Release Published 3 years ago
BRAINTREE – September 15, 2016 – IREM announced today that The Schochet Companies has been selected as a finalist for their 2016 REME (Real Estate Management Excellence) Award in the Workplace Environment – Sustainability Programs category. The REME Awards recognize real estate management excellence through innovative business practices and initiatives that advance the profession and the industry. The company is now part of an elite group of finalists in the REME Awards Program. REME Awards recognize companies and individuals who are engaged in real estate management of any or all asset classes, and from companies of any size. Winners will be announced during the IREM Fall Conference at the Inaugural Gala Dinner and REME Awards on Friday, October 21, 2016, in San Diego, CA. About The Schochet Companies The Schochet Companies is a full service real estate development and management company founded by Jay R. Schochet in 1973. Since that time the company has developed, owned, and/or managed in excess of 7,000 apartments and over 600,000 square feet of retail and commercial space throughout New England and on the West Coast. Today, The ...
read more >

The Schochet Companies News

Press releases, events, and related news.

NAHMA News Member Spotlight with Peter Lewis

January 27, 2014 6403 6403

NAHMA News (November-December 2013) Member Spotlight with Peter Lewis

Gardner News: Afternoon of Art

January 24, 2014 6252 6252

The Gardner News, Tuesday, January 14, 2014

As shown in the accompanying PDF, Binnall House recently hosted a Creative Arts Exhibit.

PERSONNEL FILE - THURSDAY, DEC. 12, 2013 STATE HOUSE NEWS SERVICE

January 14, 2014 8010 8010

The 2014 officers of the Greater Boston Real Estate Board are chairman GORDON PULSIFER, president of First Resource Development Companies, Norwell; chairman-elect RICHARD BEAL, president, Perry Brokerage Associates, Boston; treasurer KRISTEN BLOUNT, senior vice president, Colliers International, Boston; and clerk RICHARD HENKEN, President, Schochet Associates Boston.

Where on Earth Is This Place?

November 13, 2013 27220 27220

Where on Earth Is This Place?
By Rick Winterson
South Boston Online

Eastern Chamber Sets Day to Honor Military

October 28, 2013 4589 4589

New London Day

(October 25, 2013)-The Chamber of Commerce of Eastern Connecticut has rescheduled its 4th Annual Military Appreciation Breakfast for Tuesday, Nov. 5.

An Unstable Living Situation

October 10, 2013 8279 8279

An Unstable Living Situation
By Yvonne Abraham,
Boston Globe Columnist

(October 10, 2013) What does a 91-year-old woman in a tumbledown home in Brighton have in common with a wealthy, ethically iffy congressman from Harlem?

They share a landlord, amazingly enough, and what a piece of work that landlord is. But that, sadly, is where their stories diverge.

Binnall House knitting club donates winter clothing items to HOPE

October 1, 2013 4228 4228

Nonprofit’s work with women, children cited.

By Melissa Sandford
News Staff Writer, Gardner News

GARDNER (September 12, 2013)—Items from a table piled high with hand-crafted mittens, scarves and blankets were recently presented to House of Peace and Education Executive Director Christian Orobello by members of the Binnall House’s newly-founded knitting club.

The Schochet Companies Earns Green Accreditation under HUD Initiative

October 1, 2013 7602 7602

Earlier this month The Schochet Companies, an industry-leading real estate firm based in Boston with properties throughout New England, received full SPI-HUD Accreditation for their efforts in sustainability throughout their portfolio.

Helping Hands Food Pantry Serves Up Weekly Staples and a Cambridge Food Festival

September 6, 2013 4520 4520

First in a Series on Hunger and Health in Cambridge

Fresh Pond Apartments Cambridge, MA
Saint James Episcopal Church 1991 Mass Ave, Cambridge, MA 02140

Being out in the warmth of a spring breeze is a just little bit unusual for the folks who run the Helping Hands Food Pantry. The pantry staff are more used to the usual routine: moving boxes, stocking shelves and managing volunteers in a ground level space of the Fresh Pond apartments, where the Helping Hands Food Pantry is located. This spring, sponsors and staff of the Helping Hands Food Pantry got a chance to socialize with families they serve at an outdoor food festival, and a chance to experience the communal aspects of food and community in a more lighthearted way. It was a pleasure to witness.

Retirement Housing Foundation, The Schochet Companies, and Riverside Village Apartments Host First Annual National Night Out 2013 Celebration

August 12, 2013 6999 6999

(Leominster, MA) August 12, 2013 – All across the country, communities are taking a stance against crime. On August 6th, residents of Riverside Village Apartments, Mayor Dean J. Mazzarella, Worcester County Sheriff Lewis G. Evangelidis, members of local fire department, law enforcement, and community agencies along with a host of local businesses came together to celebrate National Night Out, America’s Night Out Against Crime.