Sponsor: Charles Ransford
Loan Approved: July 14, 1995
MHP committed $400,000 in permanent rental financing to help private developer Charles Ransford acquire and rehabilitate 41 affordable SRO units in North Adams.
TYPE: Preservation/rehab.
WHAT: Rehab and preservation by longtime owners of two historic brick buildings totalling 41 single-room occupancy (SRO) units.
WHERE: 176-178 Union St., 8-10 Rand St., North Adams.
AFFORDABILITY: All at or below 50 percent of the area median income (AMI).
MHP FINANCING: $400,000 first mortgage.
RENTAL INFORMATION: Ransford Properties, 413-663-6951