Posted on November 25, 2014
BOSTON, Nov. 25, 2014 --- The Massachusetts Housing Partnership put its bank-funded loan pool to work this fall, committing $8,435,000 for the financing of 260 units of rental housing across Massachusetts.
Here is a roundup of MHP's most recent loan commitments:
Boston area
189 Broadway (Revere): MHP committed $1,040,000 in first mortgage financing to help The Neighborhood Developers (TND) construct 39 new affordable units for seniors. Other building amenities will include community room to host residents' events and TND's programs, a fitness room, onsite parking and laundry, an outdoor courtyard and central air-conditioning.
Western Mass.
Outing Park II (Springfield): MHP committed $1,975,000 in first mortgage financing to help First Resource Development Company preserve 98 rental units and create 20 additional units in Springfield.
Central Mass.
TriTown Landing Phase III (Lunenburg): MHP committed $1,050,000 in first mortgage financing to help Great Bridge Properties construct 32 new units of affordable units in Lunenburg. The rental units will be comprised of five one-bedroom units, 23 two-bedroom units and four three-bedroom units.
Cape Cod
Notantico Woods (Falmouth): MHP committed $700,000 in first mortgage financing to help the Falmouth Housing Corporation construct 11 affordable rental units in two, two-story buildings.
Stable Path (Provincetown): MHP committed $1,950,000 in first mortgage financing to help Community Housing Resources, Inc. construct 23 new rental units in Provincetown. The building will include two studio apartments, three one-bedroom apartments, 16 two-bedroom apartments and two three-bedroom apartments.
South Shore
Shoe Shop Place (Middleborough): MHP committed $1.5 million in first mortgage financing to help NOAH and TNC create 25 affordable rental units on the site of a former manufacturing building in Middleborough.
Merrimack Valley/North Shore
Winter Street School Apartments (Haverhill): MHP committed $220,000 in first mortgage financing to the Planning Office for Urban Affairs (POUA) construct 12 new affordable units on the site of a historic school building in Haverhill.