Sponsor: Capstone Communities LLC
Loan Approved: October 30, 2012
MHP committed $873,788 in first mortgage financing to help Capstone Communities LLC preserve three historic buildings and convert them into 25 new rental units.
TYPE: Adaptive reuse
WHERE: 124 Montello Street, Brockton.
WHAT: The adaptive reuuse of a 130-year old four-story brick building and two attached single story buildings into 25 units of rental housing.
AFFORDABILITY: 14 will be designated as affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $873,788.
RENTAL INFORMATION: Peabody Properties, Inc., 877-PPI-HOME