Sponsors: Neighborhood of Affordable Housing (NOAH) and The Neighborhood Corporation (TNC)
Loan Approved: October 28, 2014
MHP committed $1.6 million in first mortgage financing to help NOAH and TNC create 25 affordable rental units on the site of a former manufacturing building in Middleborough.
TYPE: New construction/adaptive reuse.
WHERE: 151 Peirce Street, Middleborough.
WHAT: The adaptive reuse and historic rehabilitation of a former manufacturing building into 25 affordable rental units.
AFFORDABILITY: All units will be affordable to residents earning at or below 60 percent of area median income (AMI).
MHP FINANCING: A $1.6 million first mortgage.
RENTAL INFORMATION: Peabody Properties, (781) 794-1000. http://www.shoeshopplace.com/