Sponsor: Affirmative Investments, Inc. and the Falmouth Housing Corporation
Loan Approved: April 30, 2010
MHP committed $950,000 in permanent rental financing to help the Affirmative Investments, Inc. and the Falmouth Housing Corporation construct 39 units of affordable rental housing in the eastern section of Falmouth.
TYPE: New construction.
WHERE: 90, 104, 112, and 138 Teaticket Highway, East Falmouth.
WHAT: The new construction of two buildings and the rehabilitation of an existing VFW building to create 39 affordable rental units for seniors. The project will also include a community center and 62 parking spots.
AFFORDABILITY: All units will be affordable to residents earning at or below 60 percent of the area median income.
MHP FINANCING: A permanent first mortgage of $950,000.