Sponsor: Mitchell Properties LLP
Loan Approved: March 3, 2008
MHP committed $5 million in permanent rental financing to help Mitchell Properties in the adaptive reuse of two former mill buildings into 53 units of rental housing in Chelsea.
TYPE: Adaptive reuse.
WHERE: 88 Gerrish Avenue, Chelsea.
WHAT: The adaptive reuse of two interconnected mill building into 53 rental units.
AFFORDABILITY: 6 units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $5 million.
RENTAL INFORMATION: http://atlas-lofts.com/contact/ or 617-884-7271.