Posted on December 2, 2011
CHELMSFORD --- A privately-funded MHP subsidy program designed to support more affordable housing in the suburbs reached a significant milestone in November as the Lynn Marcella Residences became the first development in the program to open its doors.
Named after a longtime member of the Chelmsford Housing Authority Board of Directors, Marcella Residences features five two-bedroom affordable apartments that will be rented to lower-income families and families that have been previously homeless. Located at 4 James Street,it was developed by Chelmsford Housing Opportunities for Intergenerational and Community Endeavors (CHOICE), a nonprofit subsidiary of the Chelmsford Housing Authority.
"In this time of economic uncertainty, affordable housing like this is very important," said MHP Managing Director and Chelmsford resident Mark Curtiss. "Over 200,000 households in Massachusetts pay over 50 percent of their income in rent and this is the type of housing we need to ensure that everyone in our community has a place to live."
MHP used its bank-funded loan pool to support Marcella Residences with a $410,000 first mortgage commitment and $375,000 from its $5 million Neighborhood Rental Initiative Program (NRI), which provides zero percent interest second mortgage subsidy to support the developmental of affordable rental housing in high-opportunity communities characterized by such factors as good schools, proximity to jobs, higher housing costs and a shortage of affordable housing.
First offered in 2009, the NRI program has also made funding commitments to developments in Acton, Barnstable, Hopkinton, Mashpee, Sudbury and Truro. Marcella Residences is the first to be completed.
Chelmsford Housing Authority Director David Hedison served as master of ceremonies at the grand opening on Nov. 8 and delivered an emotional tribute to Marcella, who was on the board when Hedison first started working at the housing authority at the age of 17. Hedison noted that Marcella grew up in North Chelmsford and commended her for her many years of service to the town, the housing authority and to making sure that families, military veterans and the elderly have an affordable place to live. "She has dedicated her whole life to making Chelmsford a better place," said Hedison.
Hedison also emphasized the development's connection with House of Hope, a Lowell-based family homeless shelter that will transition families from its facilities into rental homes at Marcella, and will continue to support these families with services.
"It's unusual to have a town like Chelmsford reach out to a city shelter and say 'let's work together," said Deborah Chausse, House of Hope's executive director. "It's a tremendous opportunity to be able to offer permanent housing to families and the services will be important too as these families will be transitioning from years of living a nomadic lifestyle."
The $1.5 million development received construction financing from Enterprise Bank and additional funding from the state's Housing Innovation Fund, the Community Economic Development Assistance Corp., and $75,000 in Chelmsford Community Preservation Act funds.
Also speaking at the event were CHOICE Executive Director Connie Donahue Comtois, Chelmsford Town Manager Paul Cohen, Enterprise Bank Vice President Ryan Dunn and U.S. Rep. Niki Tsongas, who praised the connection between House of Hope and the housing authority.
"The fact that these families will have homes and followup services will be tremendous," said Tsongas. "I look forward to the lives that will unfold in these marvelous homes."
For more information about this development and MHP's financing programs, contact MHP Senior Loan Officer Megan Mulcahy at 617-330-9944 x269.