Stephen M. Nolan concentrates on real estate development, affordable housing, and finance. Mr. Nolan has broad experience in both commercial and housing development, including permitting and deal structure. He has extensive experience closing debt and equity financing transactions, as well as syndications of low-income housing tax credit and historic tax credit projects. Mr. Nolan represented the developer of a 1.3 million square-foot regional shopping mall on construction, mezzanine, and permanent financings.

Mr. Nolan is the president of the Lawyers Clearinghouse for Affordable Housing and Homelessness, a Massachusetts nonprofit corporation that brings together experienced real estate practitioners willing to do pro bono work with nonprofit clients that focus on issues of homelessness and affordable housing. In 2008, he was honored for the many contributions and years of leadership he has given to the Lawyers Clearinghouse. Mr. Nolan has been a member of Lawyers Clearinghouse for 16 years, serving as its president for five years and currently serving on its board. He has been instrumental in facilitating free legal services to individuals and nonprofit organizations while helping to guide and strengthen the agency. He also has played a leading role in addressing the critical shortage of affordable housing in Massachusetts.

Mr. Nolan was a contributor to Massachusetts Zoning and Land Use Law, a 1996 Michie publication. He is active in his community, serving as the chair of the Medfield Affordable Housing Committee and president of the Medfield Community Development Corporation, a nonprofit that has constructed affordable housing in Medfield. He also is a member of the Medfield Zoning Board of Appeals.

The respected English research firm Chambers & Partners cites him in Chambers USA: America's Leading Lawyers for Business, commenting on his "expertise in affordable housing matters." In 2007, he was named a Massachusetts Super Lawyer.

Project Experience

Massachusetts Housing Equity Fund. The firm represented the Massachusetts Housing Equity Fund, Inc. in connection with the closing of seven blind pools that raised in excess of $300,000,000 for investment in federal low-income housing tax credit projects. The firm has also represented the MHEF fund in connection with equity investments in dozens of federal low income housing tax credit projects. Mr. Nolan is the lead attorney on MHEF projects, and his work has included drafting of fund offering documents, negotiation of partnership agreements and related fee agreements and review of due diligence.

Commons Development. The firm represented Commons Development in connection with a 144-unit rental housing development in Chelmsford, Massachusetts known as Kensington at Chelmsford. The project was financed with tax-exempt bonds issued by MassDevelopment with credit support from KeyBank during the construction phase and Fannie Mae during the permanent phase. Mr. Nolan was the lead attorney on the transaction.

Apollo Housing Capital. The firm has represented Apollo Housing Capital in closing equity investments in low-income housing tax credit projects. Mr. Nolan is the lead attorney on Apollo transactions.

International Masonry Institute. The firm represented the International Masonry Institute in connection with its development of a national trowel trades training facility at Fort Ritchie in Maryland. Mr. Nolan closed a $1,500,000 financing with the Maryland Department of Business and Economic Development for use in connection with the training facility.

Karam Financial. The firm has represented Karam Financial in connection with two elderly housing projects in the Fall River area funded in part with low-income housing tax credit equity. Mr. Nolan was lead attorney on the projects. His work included formation of limited partnerships and corporate general partners, negotiation of partnership and fee agreements and guaranties with equity investor and tax advice.

Hastings Village. The firm represented Hastings Village, Inc. in connection with a proposed 52-unit comprehensive permit development in Wellesley, Massachusetts. Mr. Nolan represented the developer in connection with hearings before the Wellesley Board of Appeal and the Housing Appeals Committee.

Department of Housing and Community Development. The firm has represented DHCD in connection with the drafting of form HOME documents and form Housing Stabilization Fund documents for multifamily rental loans and project-based homeownership loans. The firm drafted regulations on behalf of DHCD to implement the Massachusetts low-income housing tax credit. Mr. Nolan has represented DHCD in numerous closings of HOME loans to developers of rental projects and projects containing housing to be rehabilitated and sold to qualified first-time homebuyers. Mr. Nolan has also represented DHCD in connection with loans and grants under the Housing Stabilization Fund, the Capital Improvement and Preservation Fund and the Housing Innovations Fund.

Massachusetts Housing Investment Corporation. The firm has represented the Massachusetts Housing Investment Corporation in connection with acquisition and bridge loans and asset management issues. Mr. Nolan is the lead attorney for MHIC, and his work has included negotiation of loan document review of due diligence and general advice on management of a low-income housing tax credit investment portfolio.

Massachusetts Housing Partnership. The firm represented the Massachusetts Housing Partnership with respect to the drafting of form documents for use by municipalities in making loans under the federal HOME Investments Partnership program. Mr. Nolan was the attorney on the project. The firm’s work included preparation of a full set of loan documents for use in construction loans to rental projects under the HOME program.

Boston Coop Initiative. The firm represented Metropolitan Boston Housing Partnership, Inc. in connection with the Boston Coop Initiative, a program to create up to 250 units of limited equity cooperative housing in the City of Boston jointly sponsored by MBHP and the Public Facilities Department of the City of Boston. Mr. Nolan was the lead attorney on the project and performed services in connection with (i) closing of a tax credit syndication of limited partnership interests; (ii) coordination of transfer of City-owned land to community development corporations participating in the program; (iii) documenting and coordinating multiple public subsidies to the program, including, Community Development Block Grant loans, City of Boston linkage and LEND loans, Federal Home Loan Bank of Boston grants, and Massachusetts Housing Innovations Fund grants.

Waterford Place/Tremont Village. The firm represents the Chinese Consolidated Benevolent Association of New England, the developer of a 20 unit affordable housing project known as Tremont Village and a 40 unit housing project known as Waterford Place. Mr. Nolan was the lead attorney on both projects. His work on the projects included closing on construction and permanent financings with the Massachusetts Housing Financing Agency, closing on a sale of Tremont Village to the Massachusetts Executive Office of Communities and Development, and closing on a low income housing tax credit syndication of Waterford Place with the Massachusetts Housing Investment Corporation and the Federal National Mortgage Association.

許可

• Massachusetts

專業資格

• American Bar Association
• Massachusetts Bar Association
• Boston Bar Association

職員資訊

• Honorable Levin Campbell of the United States Court of Appeals for the First Circuit