Sponsor: North Shore Community Development Coalition
Loan Approved: March 26, 2009
MHP committed $650,000 in financing to help North Shore Community Development Coalition construct 15 units of affordable rental housing in Salem.
TYPE: New construction.
WHERE: 50 Palmer Street, Salem.
WHAT: The new construction of 15 rental units.
AFFORDABILITY: All units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $500,000 and a low-interest HomeFunders second mortgage of $150,000.
RENTAL INFORMATION: North Shore Community Development Coalition, 978-745-8071.