Northbrook Senior Limited Partnership will use a $9 million tax-exempt MassDevelopment loan to construct a senior rental housing facility in Berlin.

The 39-unit facility will be called Northbrook Village II. The three-story building will be designated for households earning no more than 60 percent of the area median income for a term of 30 years.

“We’re pleased to work with MHCC as it creates homes for the elderly community,” MassDevelopment President and CEO Marty Jones said in a statement. “These residential spaces will provide safer and more affordable conditions for seniors in central Massachusetts.”

Fidelity Bank is the bond purchaser on the project and Montachusett Home Care Corp. is the sponsor.

$9M Loan Will Fund New Rental Senior Housing In Berlin

by Banker & Tradesman time to read: <1 min