Sponsor: Oak Hill Community Development Corporation
Loan Approved: February 9, 1996
MHP committed $1.7 million in permanent rental financing to help Oak Hill CDC create 40 new affordable rental units in Worcester.
TYPE: New.
WHERE: Union Hill neighborhood, Worcester.
WHAT: 11 abandoned buildings have been totally rehabilitated into 40 40 rental units, including two two-bedroom, 24 three-bedroom and 14 four-bedroom apartments.
AFFORDABILITY: All affordable at or below 60 percent of area median income.
MHP FINANCING: $1.7 million first mortgage.