Sponsor: Katsas and Kulitnik
Loan Approved: January 21, 2000
MHP provided over $1.3 million to financing to help local developers Katsas and Kulitnik preserve a 59 single room occupancy (SRO) units in the Jamaica Plain neighborhood of Boston.
TYPE: Preservation
WHERE: 4 Union Avenue, Boston.
WHAT: The preservation of a 59-unit single room occupancy (SRO) building.
AFFORDABILITY: Of the 59 units, 24 are affordable at 50 percent AMI and six are affordable at 30 percent AMI.
MHP FINANCING: A $1,113,500 first mortgage loan and $205,068 deferred-payment second mortgage.