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Senior citizens living in four affordable housing communities in Boston, Framingham, Newton and New Bedford will see the preservation of affordability and extensive property renovations as a result of $102.7 million in MassHousing financing.
The included communities are:
- Smith House, Roxbury, 132 low-income units
- Tribune Apartments, Framingham, 53 low-income elderly and disabled units
- Melville Towers, New Bedford, 327 low-income elderly units
- Golda Meir House, Newton, 197 elderly units
The four housing communities have a combined 711 apartments and will undergo a combined $55.2 million in renovations. The four transactions closed among a number of agency year-end loan closings.
To date, MassHousing has provided financing for 485 apartment communities in Massachusetts involving more than 60,000 housing units.
“The owners of these four important housing communities for senior citizens were very committed to not only extending affordability for their residents but also to making significant property upgrades,’’ MassHousing Executive Director Tim Sullivan said in a statement. “MassHousing has a longstanding commitment to create and preserve quality housing opportunities for our seniors and we were very pleased to complete these transactions involving more than 700 apartments.’’
