Sponsor: Homeowners Rehab, Inc.
Loan Approved: May 13, 1994
MHP committed $1.975 million in permanent rental financing to help Homeowners Rehab, Inc. acquire and rehabilitate 60 rental/condominium units in Cambridgeport.
TYPE: Rehabilitation.
WHAT: The acquisition and rehabilitation of 60 rental and condominium units.
AFFORDABILITY: Of the rental units, 24 will remain affordable to residents earning at or below 60 percent of the area median income (AMI).
MHP FINANCING: A permanent first mortgage loan of $1,975,000.