Sponsor: Coalition for a Better Acre, Inc.
Loan Approved: June 4, 2010
MHP committed $750,000 to help the First Resources Development Company construct 23 new affordable rental units in Lowell.
TYPE: New construction.
WHERE: 478-484 Moody Street, Lowell.
WHAT: The demolition of two dilapidated building and the new construction pf 23 affordable rental units.
AFFORDABILITY: All units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $450,000 and a Home Funders second mortgage of $300,000.
RENTAL INFORMATION: http://www.unityplaceapartments.com/