Monarch Private Capital Finances Historic Worcester Landmark

ATLANTA, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Monarch Private Capital (Monarch), a nationally recognized impact investment firm that develops, finances and manages a diversified portfolio of projects generating both federal and state tax credits, is pleased to announce the closing of tax equity financing for the rehabilitation of a historic building in Worcester, Massachusetts. This $13.5 million project, led by GoVenture Capital Group, LLC, will transform the historic property into 36 residential units, offering 31 market-rate apartments and 5 affordable units to meet the diverse housing needs of the community.

The building sits on the former site of the Taylor and Farley Organ Company, a notable Worcester manufacturer that operated from 1855 to 1885, producing reed organs that were highly regarded during the 19th century. The redevelopment of this historic site honors the city's rich industrial past while providing modern housing solutions for today's residents.

"We're thankful to be part of the Taylor Farley project. Converting the building's use not only breathes new life into the property but provides desperately needed housing in an area that needs it the most," ...