Sponsor: Joseph LaRosa
Loan Approved: April 29, 1999
MHP committed $797,000 in financing to help private developer Joseph LaRosa create a mix of 15 new rental and condominium housing units in Roxbury and Dorchester.
TYPE: New.
WHERE: 6-8 Abbott Street, Dorchester and 712, 714, and 716 Shawmut Avenue, Roxbury.
WHAT: The new construction of a mix of 15 rental and condominium units.
AFFORDABILITY: Ten of the rental units will be affordable to residents earning at or below 60 percent of the area median income (AMI).
MHP FINANCING: A permanent plus first mortgage of $682,000 and a second mortgage of $115,000.