Sponsor: Preservation of Affordable Housing, Inc.
Loan Approved: April 10, 2003
MHP committed over $7 million to help the Preservation of Affordable Housing, Inc. (POAH) preserve the affordability of 283 housing units near downtown Salem.
TYPE: Preservation
WHERE: 12 Pope Street, Salem.
WHAT: The preservation of 283 apartments less than a mile from downtown Salem.
AFFORDABILITY: Of the 283, 278 are affordable at 50 percent AMI.
MHP FINANCING: A $7,269,491 first mortgage.
RENTAL INFORMATION: Preservation of Affordable Housing, Inc., 978-744-0537.