Sponsor: Mitchell Properties
Loan Approved: March 26, 2013
MHP committed $5.35 million in first mortgage financing to help Mitchell Properties create 50 rental units in the Box District neighborhood of Chelsea. This building combined with the 44 Gerrish Street building will make up the Standard Box Apartments.
TYPE: New construction.
WHERE: 22 Gerrish Avenue, Chelsea.
WHAT: The new construction of 50 residential rental units.
AFFORDABILITY: 21 will be designated as affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $5.35 million.
RENTAL INFORMATION: Traggorth Companies, 617-542-6500.