Sponsor: Community Action for Better Housing
Loan Approved: April 13, 2006
MHP committed $1,210,000 in financing to help convert a former convent and rooming house into 17 SRO units in New Bedford.
TYPE: Adaptive reuse.
WHERE: 116 Ruth Street, New Bedford.
WHAT: The adaptive reuse of a former convent and rooming house into 17 single room occupancy (SRO) units. Two units will be handicapped accessible and four will be reserved for Department of Mental Health clients.
AFFORDABILITY: 16 units will be reserved as affordable at 50 percent AMI; eight units will be affordable at 30 percent AMI.
MHP FINANCING: A first permanent mortgage loan of $230,000 and a second mortgage loan of $750,000.
RENTAL INFORMATION: Catholic Social Services, 508-997-7337