MassHousing has closed on $16.6 million in loans to preserve the affordability of 135 housing units for senior citizens on Beacon Hill.

MassHousing provided a $14 million permanent loan and a $2.6 million subordinate loan to the 135-unit Beacon House on Beacon Hill. The property at 19 Myrtle St. consists of 126 studio apartments and nine one-bedroom apartments in two semi-attached, eight-story brick and stone buildings.

An affiliate of Rogerson Communities used the MassHousing loans to acquire Beacon House and has entered into an agreement with the city of Boston extend the affordability for the residents there for the life of the property.

The property was originally financed by MassHousing in 1983, and the loan matured in October 2013. The owner has also renewed the 20-year Section 8 Housing Assistance Payment (HAP) contract for 85 apartments occupied by low-income seniors, and 32 apartments are regulated by the Boston Redevelopment Authority and rented to individuals with low and moderate incomes. The remaining 18 apartments are subject to a long-term lease with Massachusetts General Hospital (MGH) for use by out-of-town patients and visitors.

The property has five ground-floor commercial spaces and common facilities include an atrium, roof deck, community room, library and computer lab with professional classes for residents. MGH operates a community-based health promotion program and Kit Clark Senior Services runs a meals program out of the property for the Beacon Hill Community.

"Beacon House is an important source of affordable housing for senior citizens living on Beacon Hill and now that affordability will be extended in perpetuity," MassHousing Executive Director Thomas R. Gleason said in a statement. "The property is in very good condition, and Rogerson Communities has made a major commitment to providing quality affordable housing to the elderly residents who live there by working with the city of Boston to ensure the affordability there for the life of the property."