MassHousing and the state Department of Housing and Community Development (DHCD) have closed on $13 million in Affordable Housing Trust Fund (AHTF) loans for affordable housing in six communities.
The AHTF financing will help create or preserve the affordability 670 rental apartments at 10 properties in Boston, Williamstown, Roxbury, Lowell, Springfield, Haverhill and Falmouth. The recipients include the following projects:
- $1.9 million for the 145 unit-RTH-Riverview development in Boston’s Longwood Medical Area. Roxbury Tenants of Harvard is building 60 units of affordable, rental housing for families and 85 homeownership condominiums, 43 of which will be affordable. The building will also include a 9,000-square-foot day care center on the first floor. DHCD is also providing $5 million from its housing finance programs.
- $1 million for the 40-unit Highland Woods in Williamstown. Berkshire Fund Inc. is building the units for seniors on land leased from Williams College. DHCD is providing $1.6 million from its housing finance programs.
- $1.7 million for the 102-unit Harrison Tower in Roxbury. Trinity Financial Inc. is refinancing and substantially rehabilitating the 40-year-old, 12-story building which is under long-term lease from the Boston Public Health Commission. DHCD is providing $1.7 million from its housing finance programs.
“The new wave of financing provided by the AHTF delivers a multi-faceted, multi-generational development approach that will facilitate revitalization in a wide range of communities for years to come,” Chrystal Kornegay, undersecretary for Housing and Community Development, said in a statement.
AHTF funds are available for rental, homeownership and mixed-use projects as well as housing for the disabled and homeless, but may be applied only to the affordable units. They are used primarily to support private housing projects that provide for the acquisition, construction or preservation of affordable housing. MassHousing and the Department of Housing and Community Development jointly administer the AHTF.
