Sponsor: Asian Community Development Corporation
Loan Approved: April 3, 2010
MHP committed $1.29 million in financing to help Asian Community Development Corporation rehabilitate an old office building into 34 units of affordable rental housing in Quincy.
TYPE: Adaptive reuse.
WHERE: 6 Fort Street, Quincy.
WHAT: The adaptive re-use of an office building into 34 units of affordable rental housing.
AFFORDABILITY: All of the units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $940,000 and a Home Funder second mortgage of $350,000.
RENTAL INFORMATION: Maloney Properties, 617-209-5401