420 Harvard MM
Loan Approved: July 3, 2018
MHP committed to a $14.7 million permanent first mortgage loan to Oakgrove Residential for the construction of a four and half story building with 23 residential rental units and 5,100 square feet of commercial space as well as the adaptive reuse of an existing single-family home into two additional residential rental units, a management office, and 27 parking spots.
TYPE: New construction and Adaptive reuse.
WHERE: 420 Harvard Street and 49 Coolidge Street, Brookline
WHAT: The new construction and adaptive reuse of 25 residential rental units.
AFFORDABILITY: At least 5 of the units will be affordable for residents earning at or below 50 percent of the area median income (AMI).
MHP FINANCING: A $14.7 million permanent first mortgage loan.