A nonprofit community development organization will rehabilitate 146 units of affordable housing in Boston’s South End as part of a just-launched $47.2 million project.

Inquilinos Boricuas en Acción will renovate the units in properties on West Newton and Rutland streets, which was formerly owned by the Boston Housing Authority into long-term rental assistance housing, with 110 units funded through the rental assistance demonstration program and 36 units funded through Section 8. Units will retain their affordability for 99 years through a restricted ground lease with the BHA.

The properties will receive exterior masonry repairs, new windows and door, roofs and fire systems. Eight units will receive accessibility upgrades and another 11 currently uninhabitable units will be renovated and made available for rental.

The project is funded by federal low-income housing tax credits, federal and state historic tax credits and a $7.8 million construction-to-permanent loan. The lending team includes MassHousing, the U.S. Department of Housing and Urban Development and Wells Fargo.

IBA was founded in 1968 by a group of Puerto Rican activists to preserve affordable housing and combat displacement in South End.