Sponsor: Allston Brighton Community Development Corporation
Loan Approved: April 14, 2005
MHP provided $2.3 million to help Allston Brighton CDC refinance 59 units of affordable housing in the Allston neighborhood of Boston. This development is also known as Ray Dooley Apartments.
TYPE: Refinance
WHERE: 114-118 Glenville Ave. and 10 Long Ave., Boston.
WHAT: The refinance of 59 affordable rental apartments.
AFFORDABILITY: 24 apartments at 60 percent AMI.
MHP FINANCING: A $2,300,000 first mortgage loan and a $865,818 deferred-payment Home Funders second mortgage.
RENTAL INFORMATION: Maloney Properties, 781-943-0200.