Sponsor: Chicopee Kendall LLC
Loan Approved: June 17, 2019
A permanent first mortgage loan of $550,000 to finance the rehabilitation and re-use of two vacant historic buildings and the addition of a newly constructed building to produce 38 units of affordable housing in Holyoke.
TYPE: Adaptive reuse.
WHERE: 193-203 Chestnut St and 210 Elm St, Holyoke.
WHAT:Rehabilitation and re-use of two vacant historic buildings and the addition of a newly constructed building.
AFFORDABILITY: 36 affordable units to households earning below 60% AMI, including 12 units affordable to those earning less than 30% AMI and 3 affordable units to those earning up to 50% AMI.
MHP FINANCING: $3.5M million loan.