Posted on September 25, 2015
BOSTON, Sept. 24, 2015 --- A topping off ceremony was held today to mark the progress of Mosaic on the Riverway,an 11-story, 145-unit mixed-income development in Mission Hill in the heart of the Longwood Medical Area.
The Mosaic is being developed by the Roxbury Tenants of Harvard, a Mission Hill-based nonprofit that owns and operates 965 units of affordable housing. The development will feature 60 apartments affordable to households at or below 60 percent of area median income and 85 mixed-income condominiums.
The development is being financed primarily with federal Low Income Housing Tax Credits awarded by the state Department of Housing and Community Development (DHCD). State tax credits and other state funds are also being used. Additional funding is being provided by the City of Boston.
Bank of America is providing construction financing. MHP is supporting the rental portion of the project with $2.1 million in long-term financing.
For more information about this effort, go to www.mosaicbostoncondos.com. For more information on how MHP can finance your affordable housing development, contact Senior Loan Officer Amanda Roe at aroe@mhp.net or 617-330-9944 x273.