Workforce Housing Development Receives $1.5M in Financing

| December 10, 2018

Village at Nauset Green rendering

Boston – MassHousing is providing $1.5 million in affordable housing financing from the Agency’s Workforce Housing Initiative to support the development of the Village at Nauset Green by Pennrose, LLC, a new, 65-unit rental housing community being built on a vacant parcel owned by the Town of Eastham.

The MassHousing workforce housing financing will allow the Village at Nauset Green to be entirely affordable, while serving a broader range of working households than would have been possible otherwise.

The general contractor is NEI General Contracting. The architect is The Architectural Team and the management agent is Pennrose Management Company.

Village at Nauset Green rendering

Fifteen of the 65 new apartments at the Village at Nauset Green will be workforce housing units that will be affordable to families earning between 61 percent and 90 percent of the Area Median Income (AMI). The remaining 50 units will be traditional affordable housing units, affordable to households earning up to 60 percent of AMI. The AMI for Eastham is $86,200 for a family of four.

The Village at Nauset Green will be built at 4300 State Highway in Eastham and the new apartments will be contained in 18, three-story wood-framed buildings clustered around two common green spaces. There will be 27 one-bedroom apartments, 31 two-bedroom apartments and 7 three-bedroom apartments. The development will also feature a pocket park, community building, playground, walking path, on-site management office and sitting areas.

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Category: All, Multi Residential

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