Sponsor: Main South Community Development Corporation (Main South CDC)
Loan Approved: July 26, 2011
MHP recently committed $650,000 in financing to help non-profit developer Main South Community Development Corporation (Main South CDC) construct 22 units of affordable rental housing in the Main South neighborhood of Worcester.
TYPE: New construction.
WHERE: 152-156 Beacon Street; 25 and 32 Hammond Street; 0 Tainter Street; 22 Kilby Street and 10 Gardner Terrace, Worcester.
WHAT: The new construction of 22 affordable rental units.
AFFORDABILITY: All of the units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $400,000 and a HomeFunders second mortgage of $250,000.
NEWS RELEASE: https://www.mhp.net/news/2016/...
RENTAL INFORMATION: Main South CDC, 508-752-6181
NEWS RELEASE: https://www.mhp.net/news/2014/building-by-building-main-south-cdc-is-rebuilding-a-neighborhood