Sponsor: Common Ground, Inc.
Loan Approved: August 12, 2002
MHP provided $611,500 to help Common Ground, Inc. acquire and preserve the affordability of nine rental units in Lowell.
TYPE: Preservation
WHERE: 420, 423 and 430 Broadway Street, Lowell.
WHAT: The rehabilitation and preservation of nine apartments.
AFFORDABILITY: Of the 9 units, 8 are affordable at 60 percent AMI.
MHP FINANCING: A $339,000 first mortgage and a $272,500 deferred-payment second mortgage.
RENTAL INFORMATION: Maloney Properties, 978-686-9334.