The 100-unit Wait Street Apartments in Boston’s Fenway neighborhood has closed a $9.1 million refinancing loan that will preserve affordability for the predominantly low-income senior citizens and disabled residents.

The Wait Street Apartments are being refinanced through MassHousing’s Section 8 Proactive Preservation Program, which seeks to extend affordability at developments where Section 8 Housing Assistance Payment (HAP) contracts are due to expire.

Wait Street Associates, which owns the property, will seek to extend the Section 8 HAP contract and the affordability on all 100 apartments for the longest term possible, typically 20 years, when the current HAP contract expires in August 2021, MassHousing announced.

"The Wait Street Apartments have been an important source of affordable housing for senior citizens and disabled residents living in the Fenway for decades and this loan closing will preserve that affordability there for many more years to come," said MassHousing Executive Director Thomas R. Gleason.

The Wait Street Apartments are located in three buildings at 1-5 Peterborough St., 7-23 Wait St. and 768-782 Huntington Ave.

As part of the refinancing, a number of improvements are expected to be made to the property, including roof improvements, exterior wall improvements, ADA/504 accessibility enhancements, roadway improvements, elevator upgrades and boiler and fire alarm improvements.