Sponsor: Somerville Community Corporation
Loan Approved: September 18, 2007
MHP committed $2,346,000 million to help the Somerville Community Corp. (SCC) create 24 units of affordable housing in Somerville.
TYPE: New construction
WHERE: 460 Mystic Avenue, Somerville.
WHAT: The new construction of 24 affordable rental units in Somerville's Winter Hill neighborhood.
AFFORDABILITY: All units will be affordable at 60 percent AMI with four units set aside for Department of Mental Health (DMH) clients.
MHP FINANCING: A permanent first mortgage loan of $2,346,000.
RENTAL INFORMATION: WinnResidential, 617-742-4500