Sponsor: The Neighborhood Developers
Loan Approved: March 25, 2011
MHP committed $1.47 million to help The Neighborhood Developers create 32 units of affordable rental housing.
TYPE: New construction.
WHERE: 47 Gerrish Avenue, Chelsea.
WHAT: The new construction of three buildings containing 32 rental units.
AFFORDABILITY: All of the units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $1.47 million.
RENTAL INFORMATION: WinnResidential, 617-742-4500