Mashpee Village, an affordable housing community on Cape Cod, is undergoing a final phase of renovations after receiving $12.1 million in MassHousing loans.

Mashpee Village is owned by The Community Builders (TCB) of Boston. TCB is using the MassHousing financing to complete a second and final phase of renovations to the property, including the construction of a new wastewater treatment plant to replace the original septic systems installed nearly 40 years ago.

"Mashpee Village is the largest affordable housing community on the Cape, and this financing is going to restore the property to prime conditions for the families that live there,” MassHousing Executive Director Thomas R. Gleason said in a statement. "We’re pleased to be a partner with The Community Builders in renovating this very valuable affordable housing resource on Cape Cod.”

Mashpee Village was built in 1974 and is comprised of 35 single family apartment homes and 110 apartments in 14 garden-style, wood-frame buildings located at 1 Wampanoag Drive. In 2009, TCB completed renovations to the 35 single-family units and to the exterior of the multifamily buildings.

The recent MassHousing loan closings will finance the final phase of renovations to the 14 multifamily buildings containing the 110 apartments and for the construction of the wastewater treatment plant. Planned renovations include replacement of kitchens and bathrooms, unit accessibility upgrades, installation of new roofs and sprinkler systems, enhanced landscaping and walkways and street and parking lot repaving.

The contractor is Delphi Construction. The architect is Winslow Architects Inc. and the management agent is TCB.