Sponsor: First Resource Development Company LLC & Gordon A. Pulsifer
Loan Approved: June 17, 2019
As a part of a larger redevelopment called Mason Square Apartments, this phase includes the adaptive re-use and rehabilitation of two vacant historic buildings into sixty residential rental units with seventy-five parking spaces.
TYPE: Adaptive reuse.
WHERE: 837 State Street, Springfield.
WHAT: Rehabilitation and preservation of 60 rental units, broken down as thirty one-bedroom, twenty-five two-bedroom, and five three-bedroom units.
AFFORDABILITY: All units to be affordable to households earning at or below 60% AMI.
MHP FINANCING: $650,000 loan.