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A former South Boston convent is being converted into 36 affordable apartments for seniors with the help of nearly $8 million in tax-exempt financing from MassDevelopment.
The agency announced this week that it issued a $7.76 million tax-exempt bond on behalf of 207 E Street LLC, an affiliate of the South Boston Neighborhood Development Corporation, for the redevelopment of the former St. Augustine’s convent at 207 E St.
Eastern Bank purchased the bond, helping lower borrowing costs for the project. MassDevelopment also assisted the state Executive Office of Housing and Livable Communities in approving federal tax credits expected to generate about $11.7 million in equity.
The development, known as McDevitt Senior Homes, will include 36 one-bedroom apartments. South Boston Neighborhood House will provide supportive services to residents. It’s been in the works since 2022.
Construction is underway and is expected to be completed in early 2028.
“McDevitt Senior Homes represents more than a new building — it’s a commitment to our seniors and to preserving the fabric of South Boston,” said Donna Brown, executive director of the South Boston Neighborhood Development Corporation.
“As housing costs rise, too many older adults face the risk of displacement,” Brown said. “This development ensures that seniors who helped build this neighborhood can remain here with stability, dignity, and community.”
The former St. Augustine’s convent opened in 1895. The Paraclete Foundation acquired the property in 2008 and used it for educational and after-school programs for neighborhood youth until those operations ended during the Covid-19 pandemic.
In 2022, the South Boston Neighborhood Development Corporation reached a below-market agreement to purchase the building from Paraclete. The foundation is using proceeds from the sale to fund scholarships for local youth, according to MassDevelopment.
Economic Development Secretary Eric Paley, who chairs MassDevelopment’s board, said the conversion will allow the historic building to continue serving the neighborhood while adding badly needed housing.
“By transforming the former St. Augustine’s convent into senior housing, we are carrying this historic property’s legacy forward while helping older adults remain rooted in the South Boston neighborhood they call home,” Paley said.
MassDevelopment previously assisted the organization with financing for 24 affordable apartments for low-income veterans in South Boston.
Copyright © 2026 Boston Neighborhood News, Inc. This content may not be re-published or re-used without written permission.
