Eastern Bank Provides Financing for High Tide Capital’s Historic Redevelopment of The Day Building in Downtown New London, CT
Key Highlights
- ➤Eastern Bank provides $16.9 million construction financing for The Day Building redevelopment
- ➤Redevelopment will create 68 market-rate apartments and approximately 2,100 square feet of retail
- ➤The Day Building financing includes federal and state Historic Tax Credits
- ➤Project is among CMDA’s first financings supporting transit-oriented housing in Connecticut
Expert Statements
Max Patinkin, Principal of High Tide Capital
“The Day Building is at the center of New London’s downtown urban renewal, bringing much needed housing to a growing area.”
Max Patinkin, Principal of High Tide Capital
“It is an important landmark, and we look forward to its new chapter as part of a mixed-use development that will celebrate the building’s deep history and continued revitalization of the city center.”
Max Patinkin, Principal of High Tide Capital
“We have worked with Eastern Bank for more than five years and we’re excited to expand our relationship.”
Max Patinkin, Principal of High Tide Capital
“Eastern Bank has been a valued partner in helping us navigate a sophisticated financing structure requiring public and private investments for The Day Building.”
Max Patinkin, Principal of High Tide Capital
“We appreciate their confidence in our team and their commitment to projects that strengthen local communities.”
Greg Buscone, Executive Vice President and Chief Commercial Banking Officer of Eastern Bank
“We’re proud to support High Tide Capital’s vision for preserving and reactivating one of New London’s most recognizable, historic properties.”
Greg Buscone, Executive Vice President and Chief Commercial Banking Officer of Eastern Bank
“This project combines historic preservation, the creation of market-rate housing, and economic development expected to benefit the city and its residents.”
Greg Buscone, Executive Vice President and Chief Commercial Banking Officer of Eastern Bank
“It is an example of how creative financing and working relationships can help build transformative community investments in growing markets.”
Eastern Bank Provides Financing for High Tide Capital’s Historic Redevelopment of The Day Building in Downtown New London, CT
Adaptive-reuse project will transform former newspaper headquarters into new, market-rate housing and retail space
Get started
Create a free account to read the full story.