Sponsor: Caleb Clapp
Loan Approved: December 4, 1992
MHP committed $867,750 in permanent rental financing to help private developer Caleb Clapp preserve 75 SRO units in the Fenway neighborhood of Boston.
TYPE: Preservation.
WHERE: 270 Huntington Avenue, Boston (Fenway).
WHAT:Acquisition and rehab of former residential hotel into 75 SRO units.AFFORDABILITY: 49 SRO units will be affordable to residents earning at or below 50 percent of the area median income (AMI).
MHP FINANCING: A $867,750 permanent first mortgage loan.