Sponsor: The Neighborhood Developers
Loan Approved: March 26, 2013
MHP committed over $1.6 million first mortgage financing to help The Neighborhood Developers create 30 units of affordable rental housing in Revere.
TYPE: New construction.
WHERE: 525 Beach Street, Revere.
WHAT: The new construction of 30 residential rental units in a four-story building.
AFFORDABILITY: All units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $1,606,215.
RENTAL INFORMATION: Winn Management, 617-742-4500.