Sponsor: Somerville Housing Authority
Loan Approved: October 26, 2007
MHP committed $7.5 million to help the local housing authority replace 65 obsolete units with 95 new elderly housing units.
TYPE: New construction.
WHERE: One Capen Court, Somerville.
WHAT: The new construction of 95 elderly housing units.
AFFORDABILITY: All units will be affordable at 60 percent of AMI with four units set aside for Department of Mental Health (DMH) clients.
MHP FINANCING: A permanent first mortgage loan of $7.5 million.
RENTAL INFORMATION: Somerville Housing Authority, 617-629-6870.