Sponsor: Lena Park CDC and New Boston Development Partners LLC
Loan Approved: October 20, 2010
MHP committed $1.82 million in financing to help Lena Park CDc and New Boston Development Partners LLC construct 50 rental units of affordable rental housing in the Boston neighborhood of Mattapan.
TYPE: New construction.
WHERE: 214-225 Sandpiper Lane and 510-810 Osprey Way, Boston.
WHAT: The new construction of seven buildings containing 50 residential rental units.
AFFORDABILITY: All of the units will be affordable at 60 percent AMI and 10 units will be affordable at 30 percent AMI.
MHP FINANCING: A permanent first mortgage of $1.32 million and a $500,000 Home Funders deferred-payment second mortgage.