MassHousing has closed on $9.1 million in loans to renovate and extend the affordability at a Wareham apartment community.

The 100-unit Woods at Wareham is located at 48 Swifts Beach Road. The apartments are contained in 17 two-story buildings constructed in 1972. There are 16 one-bedroom apartments, 71 two-bedroom apartments and 13 three-bedroom apartments.

Woods at Wareham is owned by Riverview Village Assoc. in partnership with HallKeen Management, which has extended for 20 years the HUD Section 8 Housing Assistant Payment (HAP) contract on 78 of the apartments. The state Department of Housing and Community Development has approved a new 15-year HAP contract for the remaining 22 apartments under the Moving to Work Initiative.

Planned improvements include new siding, windows, doors and roofs and porch and stair repairs. There will also be electrical and fire alarm upgrades and boiler replacement as needed.

"The financing we were able to arrange with MassHousing will give new life to Woods at Wareham and enable us to provide much-needed affordable housing to its residents for many years to come," David Carlen, president of Norwich Corp. and representative of the River View Assoc. general partner, said in a statement.

Wareham Apartment Building Receives $9.1M In MassHousing Loans

by Banker & Tradesman time to read: 1 min
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