Sponsor: Valley Community Development Corporation (Valley CDC)
Loan Approved: March 1, 2007
MHP committed over $1 million to help the Valley CDC create 11 new affordable units in Amherst.
TYPE: New construction.
WHERE: 683 & 687 Main Street, Amherst.
WHAT: The new construction of 11 units of affordable family housing.
AFFORDABILITY: All units affordable at 60 percent AMI.
MHP FINANCING: A $268,000 first mortgage and a $750,000 second mortgage.
ADDITIONAL SUPPORT: MHP provided Valley CDC with a three-year capacity building grant to augment its ability to produce affordable housing. MHP's Community Housing Initiatives Team has also worked extensively with the Amherst Housing Authority to help them identify town-owned land for affordable housing development.
RENTAL INFORMATION: Amherst Housing Authority, 413-256-0206.