SWANSEA – BayCoast Bank provided flexible financing, in addition to a $250,000 grant, that enabled the Veterans Association of Bristol County to acquire the $1.85 million Tuscan Building in Fall River, positioning the group to expand services as demand grows, the bank announced.
The association completed the acquisition on Oct. 30. The bank’s support included flexible loan terms and the grant funding to help with the down payment and initial building improvements.
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“BayCoast Bank is truly honored to serve those who have bravely served us,” said John McMahon, senior vice president of community engagement for BayCoast Bank. “When the VABC needed our support, we didn’t hesitate. We are so pleased to be part of this project that will help ensure veterans have access to the comprehensive programs they need and deserve.”
The seller, Tuscan Properties LLC, provided a charitable reduction on the sale price. Additional contributions toward the project came from the Robert F. Stoico FIRSTFED Charitable Foundation, the Ruby W. and LaVon P. Linn Foundation, and Fall River Five Cents Savings Bank.
As the number of veterans seeking assistance grows, the association said its current facility at 755 Pine St. in Fall River is no longer adequate, noting that nearly 4,900 veteran households were served in 2024.
“For years, demand for our programs has far outpaced the space we have to operate,” said Ken Levesque, executive director of the veterans association. “This new facility is more than just a building – it’s a commitment to every veteran who walks through our doors. It’s a promise that we will continue to grow with them, adapt to their needs and be a reliable source of support for decades to come.”
The new Fall River location at 145 Globe St. will allow the group to expand its drop-in center, food pantry and emergency food assistance areas, and create dedicated space for career development, housing support, workshops and community programming.
The nonprofit has launched a $3 million capital campaign, with about $2 million still needed to complete renovations, including a commercial kitchen, and to retire the mortgage. Naming opportunities are available for major donors, the bank said.
The association expects to begin relocation after building improvements are completed and plans to hold a dedication ceremony in spring 2026. The project comes as the organization approaches its 40th anniversary in 2027.
BayCoast Bank, which is based in Swansea, operates 25 branches in total, including six locations in Rhode Island.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
