Sponsor: Beverly Affordable Housing Coaltion
Loan Approved: April 7, 2004
MHP provided $750,850 in financing to help the Beverly Affordable Housing Coalition $300,000 create six affordable rental units in Beverly.
TYPE: Preservation
WHERE: 20 Ropes St. and 25 Bennett St., Beverly.
WHAT: The creation of six new affordable housing units through the acquisition and minor rehabilitation of two, three-family homes in the Gloucester Crossing section of Beverly.
AFFORDABILITY: All affordable at 60 percent AMI.
MHP FINANCING: A $300,850 first mortgage and a $450,000 deferred-payment second mortgage.
RENTAL INFORMATION: Beverly Affordable Housing Coalition, 978-921-4705.