Providence, RI – Citizens announced that its Community Development Group provided a $40.7 million construction loan to Trinity Orient Heights Phase Three Limited Partnership.
The loan provides financing for the construction of 81 new units and the modernization of 42 existing units of affordable housing located in the Orient Heights State Public Housing development in Boston. All of the units are subject to long-term rental assistance contracts and reserved for tenants at or below 60% Area Median Income (AMI).
The Citizens’ Community Development Group has committed more than $3 billion in loans and investments to support the development and rehabilitation of affordable housing units and economic revitalization activities in our communities.
