Sponsor: Dorcester Bay Economic Development Corp.
Loan Approved: December 8, 2000
MHP provided over $1.2 million to help Dorchester Bay Economic Development Corp. combine the conversion of a former school building and five, duplex-style buildings into 25 affordable units in the Dorchester neighborhood of Boston.
TYPE: Adaptive reuse/new construction
WHERE: 142-150, 164 Magnolia Street and 117-123 Alexander Street, Boston.
WHAT: The conversion of the long-vacant, historical Benedict Fenwick into 15 residential units and the new construction of 10 units in five duplex buildings.
AFFORDABILITY: All affordable at 50 percent AMI.
MHP FINANCING: A $1,205,047 first mortgage.
RENTAL INFORMATION: Winn Management, 617-445-2323.