Sponsor: Winn Development Corporation
Loan Approved: September 16, 2004
MHP provided over $1.9 million in financing to preserve 28 affordable rental apartments, located in a 168-unit complex, at risk of being converted into market-rate condominiums.
TYPE: Preservation
WHERE: 105 North Street, Andover.
WHAT: The preservation of 28 affordable rental units, located inside the 168-unit Brookside at Andover Condominium complex.
AFFORDABILITY: All units affordable at 50 percent AMI.
MHP FINANCING: A $1,937,100 first mortgage.
RENTAL INFORMATION: Winn Residential, 617-742-4500.