MassDev Provides Loan to 138 Congress St.

| August 7, 2018

Lowell, MA –  MassDevelopment has provided an $895,000 loan to 138 Cross Street LLC, which will use loan proceeds to purchase a fire-damaged building in Lowell and convert it into a nine-unit affordable rental housing facility. 138 Cross Street LLC is an affiliate of The Megan House Foundation, Inc., a long-term residential substance abuse treatment and recovery home for women ages 18 to 26, and Coalition for a Better Acre (CBA), a community development corporation in Lowell. Once completed, the new apartment building will serve as a sober housing facility where graduates of Megan’s House and other addiction treatment facilities can live while receiving continued counseling and support.

The City of Lowell contributed $250,000 towards the project using funds from the HOME Program, a federal program that provides grants to state and local governments to implement local housing strategies that increase homeownership and affordable housing opportunities for low- and very low-income Americans.

The Megan House Foundation, Inc. is a public charity created to help the Merrimack Valley community and surrounding areas establish a comprehensive plan to provide and facilitate substance abuse treatment services for people in need. Founder Tim Grover named the organization after his daughter, Megan, who passed away in 2014 after she was unable to find a bed in a nearby treatment facility. Since then, Grover has made it his life’s mission to assist young women facing similar circumstances. In 2015, the foundation opened its first residential treatment facility, called Megan’s House, for young women suffering from opioid addiction.  Megan’s House has a sister facility in Dracut, called Erin’s House, where successful graduates of the Megan’s House program reside while they work during the day. Both locations have onsite counseling staff to assist residents.

Founded in 1982, CBA is a professional, membership-based nonprofit community development corporation dedicated to resident empowerment and sustainable community revitalization for current and future residents of Lowell and the Merrimack Valley. CBA promotes healthy, vibrant neighborhoods and communities by developing resident leaders, affordable housing, and economic opportunities, and by responding to community needs through collective action. For most of CBA’s 35 years, the organization has concentrated on the Acre neighborhood; today, CBA serves the entire city of Lowell and surrounding region, focusing on lower-income residents and struggling neighborhoods.

 

Tags: ,

Category: All

For more info on how to submit content or advertise with High-Profile, connect with us here!

Would you like more info on how to submit content or advertise with High-Profile?

 

Connect with us here!