Sponsor: Ash Development Corporation, LLC
Loan Approved: March 9, 2001
MHP provided $336,000 to help Ash Development Corporation, LLC preserve nine affordable apartments in Lawrence.
TYPE: Preservation
WHERE: 139, 141 and 143 May Street, Lawrence.
WHAT: The preservation of two buildings containing nine units.
AFFORDABILITY: Of the nine units, seven are affordable at 50 percent AMI.
MHP FINANCING: A $190,000 first mortgage and a $173,000 deferred-payment second mortgage.
RENTAL INFORMATION: Merrimack Valley Property Management , 978-934-9185.