IBA Secures $1.3M in Financing for Multifamily Property Renovation in Boston’s South End

BOSTON — IBA – Inquilinos Boricuas en Acción has secured $1.3 million in financing from the Department of Housing and Community Development to renovate Residencia Betances, a housing development in Boston’s South End. Located on Shawmut Avenue, the property, which serves low-income individuals with serious mental health issues, features 11 single-room occupancy units. Planned renovations include enhancements to the property’s historical brownstone exterior and revamping the interior to create a more open and welcoming floor plan, along with improvements to the individual units. Originally developed in 1993 by IBA, the property is one of the few properties that provides supportive housing to Spanish-speaking residents who are formerly homeless clients of the Development of Mental Health.