Sponsor: Volunteers of America National Services
Loan Approved: October 20, 2005
MHP committed $1.85 million to help Volunteers of America National Services create 46 affordable units in Lawrence.
TYPE: Adaptive reuse/new construction
WHERE: 473 Essex Street, Lawrence.
WHAT: The adaptive reuse of a historic building and new construction of an additional building to create 46 units of affordable rental housing.
AFFORDABILITY: All affordable at or below 60 percent AMI; two units are affordable at 30 percent AMI.
MHP FINANCING: $1,845,443 first mortgage.
RENTAL INFORMATION: Trinity Management, 617-542-3019.