MassHousing and the state Department of Housing and Community Development (DHCD) announced $14.5 million in Affordable Housing Trust Fund (AHTF) loan closings today for affordable housing communities in Massachusetts.
The AHTF financing will help create or rehabilitate and preserve the affordability of 1,168 apartments in 10 communities. The projects are as follows:
$2.5 million for the 245-unit Northampton Tower in Boston. Trinity Financial of Boston is rehabilitating all the existing 234 apartments and adding 11 accessible units in the 29-story building. DHCD is also providing $1 million in financing.
$2 million for the 500-unit Colonial Estates in Springfield. Beacon Communities of Boston is refinancing and rehabilitating the property.
$1 million for the 40-unit Temple Place in Cambridge. Cambridge Affordable Housing Corp. is demolishing an existing YMCA pool building and constructing a new, five-story apartment building. DHCD is also providing $1.45 million in financing.
$1.05 million for the 50-unit Cottage Square Apartments in Easthampton. Arch Street Development of Boston is converting the historic Easthampton Dye Works property into affordable housing. DHCD is also providing $1.07 million in financing.
$1 million for the 30-unit 525 Beach St. in Revere. The Neighborhood Developers of Chelsea is demolishing a vacant warehouse and building a new, four-story building. DHCD is also providing $520,000 in financing.
$1 million for the 40-unit Winthrop Apartments in Winthrop. The Chelsea Jewish Foundation and Affirmative Investments of Boston are building a new, four-story building with support services for senior citizens. DHCD is also providing $550,000 in financing.
$1 million for the 60-unit Marion Village Estates in Marion. Baywatch Realty Trust of Dartmouth is constructing two new 2.5-story, garden-style buildings for low-income families. DHCD is also providing $1.7 million in financing.
$1 million for the 40-unit Roxbury Crossing Senior Building in Roxbury. Mission Hill Neighborhood Housing Services is building a new, five-story building near Roxbury Crossing. DHCD is also providing $1.9 million in financing.
$1.33 million for the 37-unit Jackson Commons in Boston. Urban Edge Housing Corporation of Boston is building Jackson Commons as part of the Jackson Square Redevelopment Initiative. DHCD is also providing $1.3 million in financing.
$1.75 million for Phases 1A and 1B for the Residences at Centre and Main in Brockton. Trinity Financial of Boston is developing the Residences at Centre and Main in downtown Brockton. Phase 1A involves the new construction of a four-story building containing 71 apartments. Phase 1B involves the new construction of a four-story building containing 42 apartments. DHCD is also providing $750,000 in financing.
$959,260 for the 13-unit CHOICE Veterans Housing in Chelmsford. CHOICE Inc. of Chelmsford is renovating one building in Chelmsford, and constructing another in Westford, for housing for veterans. MassHousing is also providing $150,000 through its Center for Community Recovery Innovations, Inc. (CCRI), a nonprofit subsidiary corporation of MassHousing. DHCD is also providing $960,000 in financing.
