Capstone Communities LLC
Loan Approved: April 27, 2021
MHP committed to a $5.4 million permanent first mortgage loan to help Capstone Communities LLC with the adaptive reuse of the historic McElwain School building into 57 mixed-income apartments.
TYPE: Adaptive re-use
WHERE: 242-250 Main St., Bridgewater
WHAT: Adaptive re-use and historic preservation of Bridgewater's McElwain School into 57 mixed-income apartments
AFFORDABILITY: 51 one-, two-, and three-bedroom units affordable at or below 60% AMI
MHP FINANCING: A $400,000 permanent first mortgage loan