Sponsor: Trask, Inc.
Loan Approved: November 19, 2013
MHP committed $7.52 million in first mortgage financing to help Trask, Inc. develop 60 new units of rental housing in Ashland.
TYPE: New construction.
WHERE: 1 Ashland Woods Lane, Ashland.
WHAT: The new construction of 60 residential rental units in two, three-story buildings; an on-site manager's office; storage facilities; a common room; an exercise room and 120 parking spaces.
AFFORDABILITY: Of the 60 units, 15 will be designated as affordable for residents earning at or below 80 percent of the area median income (AMI).
MHP FINANCING: A permanent first mortgage of $7.52 million.
RENTAL INFORMATION: Corcoran Management Co., (781) 849-0011