Sponsor: Beacon Communities & Mandela Residents Cooperative Association, Inc.
Loan Approved: September 19, 1997
MHP committed over $5.4 million in permanent rental financing to help Beacon Communities acquire and rehabilitate 276 rental units in Roxbury.
TYPE: Acquisition/rehab.
WHERE: 150 and 160 Northampton Street, 560 and 570 Shawmut Street.
WHAT: Acquisition/rehab through U.S. Bankruptcy Court of 276 rental units.
AFFORDABILITY: 170 units at or below 80 percent of the area median income (AMI) and 106 units at or below 60 percent AMI.
MHP FINANCING: $5.4 million first mortgage.