News

Long-term financing from MHP; City, CDC praised for its housing efforts

SOMERVILLE, June 10, 2009 --- Just seven months after celebrating the start of construction, the Somerville Community Corporation (SCC) once again brought together leaders from the public and private sectors to celebrate the grand opening of Saint Polycarp Village, a 24-unit affordable rental housing development that was built due in part to financing from MHP.

PITTSFIELD, June 8, 2009 --- First, Pittsfield's Beth Pearson bought the Grace Apartments. Then, she bought the properties on the corner and the Wood Brothers building a few blocks away. Her vision: Create a European-style neighborhood with new apartments at reasonable rents.

LOWELL, May 28, 2009 --- The Massachusetts Housing Partnership has committed $3.25 million in a permanent first mortgage loan to help refinance and renovate 99 affordable rental units located in an eight building scattered site complex.

BOSTON, May 6, 2009 --- Using its ability to provide fixed-rate financing for affordable rental units, MHP has committed $4,480,000 to renovate and refinance 98 affordable rental units in the Hyde Park neighborhood.

CHELSEA, April 3, 2009 --- As part of his Massachusetts Recovery Plan, Gov. Deval Patrick announced today that he will target $108 million in public funds and tax credits to help support mor than 2,000 affordabable units in 39 rental housing projects across Massachusetts.

BOSTON, March 19, 2009 --- MHP recently committed $1.275 million in first mortgage financing to Lena Park Community Development Corporation for the development of Olmsted Green Rental Phase II, a new seven building complex consisting of 50 rental units.