Sponsor: Meredith Management Corporation
Loan Approved: January 25, 2011
MHP committted $1.85 million in financing to help Meredith Management Corporation preserve 34 units of rental housing in Newton.
TYPE: Preservation.
WHERE: 88 Chestnut Avenue, Newton.
WHAT: The preservation of 34 rental units for elderly and disabled tenants.
AFFORDABILITY: 29 units will be affordable at 50 percent AMI.
MHP FINANCING: A permanent first mortgage of $1.85 million.