Sponsor: Urban Edge
Loan Approved: April 10, 2003
MHP provided over $7.4 million in financing to help Urban Edge construct 63 new affordable apartments in the Roxbury neighborhood of Boston.
TYPE: New construction
WHERE: 3037 and 3091 Washington Street, Boston.
WHAT: The new construction of 63 affordable rental apartments.
AFFORDABILITY: All affordable at 60 percent AMI; 15 units affordable at 30 percent AMI.
MHP FINANCING: A $6,689,400 million first mortgage and $750,000 HomeFunders deferred-payment second mortgage.
RENTAL INFORMATION: Urban Edge, 617-427-9400.