Sponsor: Lawrence Community Works
Loan Approved: October 27, 2009
MHP committed over $2.1 million in financing to help Lawrence Community Works rehabilitate one building located at the Southwick Mills campus into 60 units of affordable rental housing in Lawrence.
TYPE: Adaptive reuse.
WHERE: 50 Island Street, Lawrence.
WHAT: The adaptive reuse of a former mill building into 60 units of housing.
AFFORDABILITY: All units are affordable at 60 percent AMI.
MHP FINANCING: A $1,504,000 permanent first mortgage and a $600,000 shared second mortgage under the Home Funders program.
RENTAL INFORMATION: First Realty Management, 978-683-3089