Sponsor: Somerville Community Corporation
Loan Approved: April 24, 2012
MHP committed $1.62 million in permanent rental financing to help the Somerville Community Corporation construct 31 units of affordable rental housing in Somerville.
TYPE: New construction.
WHERE: 8 Butler Drive, Somerville.
WHAT: The third phase of an affordable rental complex on the site of a former church campus. The third, and final, phase will include 31 affordable rental units.
AFFORDABILITY: All units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $1.62 million.
RENTAL INFORMATION: WinnResidential, 617-742-0725.