Arch Communities LLC
Loan Approved: June 30, 2020
MHP committed to a $400,000 permanent first mortgage loan to help Arch Communities LLC with the adaptive reuse of the historic Mary Wells High School building into 62 mixed-income apartments for seniors 55 and older.
TYPE: New. Adaptive re-use
WHERE: 80 Marcy St., Southbridge
WHAT: New construction of 62 mixed-income apartments for seniors
AFFORDABILITY: 56 units affordable at or below 60% AMI
MHP FINANCING: A $400,000 permanent first mortgage loan