Boston – MassDevelopment has issued $9.4 million in bonds for Walker Park, a project from the Urban Edge Housing Corporation, a community development organization in Roxbury.
Walker Park
Urban Edge is using bond proceeds to build Walker Park, a 49-unit affordable rental housing facility in the Egleston Square section of Roxbury.
Urban Edge will demolish a blighted building and revitalize two blighted lots to make way for the construction of two buildings that will house the rental units. Eight of the units will be available to households earning 30% of the area median income and to homeless individuals and families, and the remaining 41 units will be available to households earning no more than 60% area median income.
MassDevelopment also assisted the Mass. Department of Housing and Community Development with the approval of federal low income housing tax credits that will provide $5.8 million in equity for the project. Bank of America purchased the bonds.
