MassDev Chelsea, TND

Chelsea to Expand Affordable Housing with MassDev Bond

MassDevelopment has issued an approximately $6.89 million tax-exempt bond for The Neighborhood Developers, a nonprofit community development organization in Chelsea. TND is using bond proceeds to buy and demolish a building at 242 Spencer Ave. in Chelsea to build, furnish and equip a 4-story, 34-unit rental apartment facility in its place.