Sponsor: North Shore Community Development Coalition and YMCA of the North Shore
Loan Approved: November 18, 2010
MHP committed $1.15 million in rental financing to help Holcroft Park Homes LLC construct 29 units of affordable rental housing in Beverly.
TYPE: New construction.
WHERE: 5 Mill Street and 10, 22 and 28 Grant Street in Beverly.
WHAT: The new construction of four buildings with 29 residential rental units.
AFFORDABILITY: All of the units will be affordable at 60 percent AMI and at least six will be affordable at 30 percent AMI.
MHP FINANCING: A permanent first mortgage of $850,000 and a $300,000 Home Funders second mortgage.
RENTAL INFORMATION: YMCA of the North Shore, 978-922-0990.