Sponsor: Vietnamese American Initiative for Development, Inc. (Viet-Aid, Inc.)
Loan Approved: July 15, 2010
MHP committed $997,000 to help the Viet-Aid, Inc.construct 27 new affordable rental units in the Dorchester neighborhood of Boston.
TYPE: New construction.
WHERE: 4-6 Bloomfield Street, Boston.
WHAT: The new construction of a four-story building with 27 rental units.
AFFORDABILITY: All units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $647,000 and a $350,000 deferred payment Home Funders second mortgage.