Eastern Bank provides $16.9 million financing for High Tide Capital’s New London redevelopment
EBC•Eastern Bank is providing $16.9 million in construction-related financing for High Tide Capital’s redevelopment of The Day Building in New London, Connecticut. The project will create 68 market-rate apartments and approximately 2,100 square feet of ground-floor retail space.
1. Redevelopment financing
Eastern Bank is providing $16.9 million in construction-related financing for High Tide Capital’s redevelopment of The Day Building, a former newspaper headquarters in New London, Connecticut. The project will convert the building into 68 market-rate apartments and approximately 2,100 square feet of ground-floor retail space. The financing structure includes federal and state historic tax credits, Connecticut Municipal Development Authority funding and municipal incentives.
