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Brookline Apartments Gain Extended Affordability Through Refinancing

May 5, 2016 | Reprints | Unlock Link | Print

MassHousing has announced $13 million in financing for the Beacon Park Apartments in Brookline.

Beacon Park Assoc. refinanced through MassHousing’s loan program through the Federal Financing Bank. Families living in the 80-unit complex can expect to see an extension of affordability as a result, according to MassHousing. Approximately 30 of the apartments at Beacon Park will remain affordable to lower-income families. The owner has obtained a federal Section 8 Housing Assistance Payment Contract for the units for 15 years. Additionally, 16 of the 30 units will be affordable for at least 20 years as a condition of the financing.

The Beacon Park Apartments contain 20 one-bedroom and 60 two-bedroom apartments at 133 Park St. and 1371 Beacon St.

Commercial & Industrial