Sponsor: Somerville Community Corp.
Loan Approved: December 17, 2014
MHP committed over $2.9 in first mortgage financing to help Somerville Community Corp. create 35 units of affordable rental housing in the Union Square neighborhood of Somerville.
TYPE: New construction
WHERE: 181 Washington Street, Somerville.
WHAT: New construction of 35 rental units.
AFFORDABILITY: 14 affordable at 60 percent AMI.
MHP FINANCING: $2,923,000 first mortgage.
RENTAL INFORMATION: Winn Residential, 617-742-4500