Sponsor: Worcester Common Ground
Loan Approved: March 1, 2007
MHP committed over $1.1 million to help create 12 affordable units and four commercial spaces in Worcester.
TYPE: New construction.
WHERE: 1-7 Piedmont Street, Worcester.
WHAT: The new construction of one four-story brick building, creating three commercial store front spaces on the ground floor and 12 housing units on floors two through four.
AFFORDABILITY: All affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage loan of $383,000 and a deferred-payment second mortgage of $750,000.
RENTAL INFORMATION: Worcester Common Ground, 508-754-0908.