Sponsor: Franklin Street Associates LP
Loan Approved: April 12, 2011
MHP committed over $9.6 million to help Franklin Street Associates LP rehabilitate 122 rental units.
TYPE: Preservation.
WHERE: 411 Franklin Street, Cambridge.
WHAT: The preservation and rehabilitation of a 10-story building with 122 residential rental units for elderly tenants.
AFFORDABILITY: 105 units will be made affordable at 50 percent AMI.
MHP FINANCING: A permanent first mortgage of $9,673,097.