Sponsor: Kevin Norton
Loan Approved: October 22, 1999
MHP committed $400,000 to help preserve the affordability of a 19-unit SRO in Hanson.
TYPE: Preservation.
WHERE: 748 Whitman Street in Hanson.
WHAT: A 19 unit single resident occupancy (SRO) building, with 11 single-occupancy rooms and eight double-occupancy rooms.
AFFORDABILITY: At least four (4) rooms will be affordable to tenants earning up to fifty percent (50%) of the area median income
MHP FINANCING: $338,500 in a permanent first mortgage loan and $62,838 in a deferred-payment second mortgage.
RENTAL INFORMATION: Kevin Norton, (508) 565-2713.