Sponsor: Chestnut Park LLC
Loan Approved: July 23, 2013
MHP committed $1.5 million in financing to help Chestnut Park LLC construct 54 units of affordable housing in Holyoke.
TYPE: Adaptive reuse
WHERE: Four adjacent but non-contiguous building in Holyoke: 85, 95, 47-60 Chestnut Street and 218 Hampden Street.
WHAT: The adaptive reuse of four buildings previously owned by the Catholic Church to create 55 units of affordable rental housing.
AFFORDABILITY: All units affordable at 60 percent AMI; five units will be reserved for residents earning at 30 percent AMI.
MHP FINANCING: A permanent first mortgage of $1.5 million.
MORE INFO: Annual report essay
RENTAL INFORMATION: MB Management, (781) 762-4800