Sponsor: Cambridge Family YMCA, Inc.
Loan Approved: April 6, 2009
MHP committed $749,361 to refinance 128 SRO units in Cambridge.
TYPE: Refinance.
WHERE: 820 Massachusetts Avenue, Cambridge.
WHAT: The refinance of 128 Single Room Occupency (SRO) units.
AFFORDABILITY: All units in the project will be affordable at 80 percent AMI; 35 units will be affordable at 50 percent AMI.
MHP FINANCING: A $749,361 permanent first mortgage.
RENTAL INFORMATION: Cambridge Housing Authority, 617-864-3020.