Sponsor: North Shore Community Development Coalition and YMCA of the North Shore
Loan Approved: January 10, 2012
MHP committed over $1.2 million to help the North Shore Community Development Coalition and the YMCA of the North Shore construct 29 units of affordable rental housign.
TYPE: New construction.
WHERE: 17-25 Mill Street and 33-37 Mill Street, Beverly.
WHAT: The new construction of two buildings with 29 residential rental units/
AFFORDABILITY: All units will be affordable at 60 percent AMI. Six units will be reserved at 30 percent AMI.
MHP FINANCING: A permanent first mortgage of $929,600 and a HomeFunders second mortgage of $300,000.
RENTAL INFORMATION: YMCA of the North Shore, 978-922-0990.