Sponsor: Somerville Community Corporation
Loan Approved: August 26, 2010
MHP committed $1.66 million in permanent rental financing to help the Somerville Community Corporation construct 29 units of affordable rental housing in Somerville.
TYPE: New construction.
WHERE: 16 Butler Drive, Somerville.
WHAT: The new construction of 29 rental units.
AFFORDABILITY: All units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $1.66 million.