Tag: affordablehousing
Leominster Affordable Housing Receives Financing
Boston – MassHousing has provided a total of $15 million in affordable housing financing to an affiliate of Farragut Investments Inc., to undertake substantial property improvements at the 181-unit Whitney Carriage Park apartments in Leominster. The property contains 181 mixed-income apartments across nine former mill buildings and two townhomes. As part of the MassHousing financing, […]
$1.73M in Awards Announced to Support Energy Efficient Construction
Boston – The Baker-Polito Administration announced $1.73 million in awards to support energy efficient new construction for affordable housing developments in six cities and towns built to Passive House standards. The grants, awarded to eight affordable housing developments in Cambridge, Gloucester, Hanson, Northampton, Holbrook and Boston totaling 540 high-efficiency units, provide energy savings and improved […]
RI Bank Funds Three Affordable Housing Projects
Providence, RI – Citizens Bank announced that its Community Development Group has provided $36.5 million in construction loans for three affordable housing projects in Massachusetts. Citizens provided a $17 million loan to 2Life 370 Harvard LLC, an entity sponsored by 2Life Communities, for the construction of 62 units of affordable senior multi-family housing in Brookline. […]
Brookline Affordable Housing Closes on Financing
Boston – MassHousing has provided $25 million in financing to the Brookline Housing Authority (BHA) to provide significant improvements to the 100-unit Arthur O’Shea House located at 61 Park St. in Coolidge Corner. The MassHousing financing will allow the BHA to make comprehensive renovations to the property, which is home to lower-income senior citizens and […]
Anne M. Lynch Homes Secures Financing
Boston – MassHousing has closed on $66.1 million in affordable housing financing to affiliates of Beacon Communities, LLC to advance the redevelopment of obsolete public housing at the Anne M. Lynch Homes at Old Colony in South Boston. Originally constructed in 1940, Old Colony is one of the oldest federal public housing developments in the country […]
Lowell Affordable Housing Receives Financing
Lowell, MA – MassDevelopment has participated with Washington Savings Bank to provide a $3,062,700 loan to Residence at Mill Square LLC, an affiliate of Degmar Development Corp. Degmar used proceeds to buy a parcel at 27 West Third St. in Lowell, on which it is building a 21-unit affordable rental housing facility to be called […]
Energy-Efficient Cohousing Receives Financing
Northampton, MA – MassDevelopment has partnered with Greenfield Savings Bank to provide Sunwood Builders, Inc. and Sunwood Development Corporation with loan financing for Village Hill Cohousing (VHC), an energy-efficient cohousing community under construction at Village Hill Northampton. Village Hill Cohousing broke ground in late 2018, and, once completed, will include a common house and 28 […]
Solis Joins SSHH Board
Weymouth, MA – South Shore Habitat for Humanity, which has delivered quality housing in partnership with families in need for more than 33 years, has named Susan Solis to its board of directors. In this role, Solis will work with the other board members and Executive Director Martine Taylor to further the organization’s work to […]
Loan Secured for Yale Acres Redevelopment
Gloucester, MA – Rockport Mortgage of Gloucester announced the closing of a $26.6 million, HUD 221(d)(4) substantial rehabilitation loan in Meriden, Conn. Yale Acres is a 162-unit affordable housing community originally constructed in 1952 by the Meriden Housing Authority (MHA). The borrower, Yale Acres LLC of Meriden, Conn., is an affiliate of Maynard Road Corporation, […]
State Funding Awarded to Swampscott Senior Housing
Brighton, MA – On July 18, Governor Charlie Baker and Undersecretary Janelle Chan of the Massachusetts Department of Housing and Community Development (DHCD), announced the 2019 annual affordable rental housing funding awards. B’nai B’rith Housing’s Senior Residences at the Machon development was one of the 28 funding recipients. The complete list of funded projects was […]
