Sponsor: AvalonBay Communities Inc.
Loan Approved: February 28, 2012
MHP committed $15 million to help AvalonBay Communities Inc. create 115 units of rental housing in Andover.
TYPE: New construction.
WHERE: 460 River Road, Andover.
WHAT: The new construction of 115 residential rental units.
AFFORDABILITY: 23 units will be affordable at 80 percent AMI.
MHP FINANCING: A permanent first mortgage of $15 million.
RENTAL INFORMATION: AvalonBay Communities Inc., 877-587-4061.