Capstone Communities LLC
Loan Approved: March 9, 2021
Forty affordable apartments in the heart of Cambridge, featuring energy-efficiency appliances and sustainable design, outdoor green space and patio, electric vehicle charging stations, and indoor & outdoor bike parking.
TYPE: New Construction, Rehabilitation
WHERE: 1789 Massachusetts Ave., Cambridge
WHAT: Rehabilitation and adaptation of three existing houses into 40 apartments
AFFORDABILITY: 13 three-bedroom, 13 two-bedroom, and 14 one-bedrooms, including three fully accessible units. All units are affordable to low- and moderate-income households in perpetuity.
MHP FINANCING: A $5.2 million permanent first mortgage loan