Sponsor: Nebel Management Corp.
Loan Approved: October 24, 2018
Using its Treasury Risk Share Program, MHP is providing a low-interest, $3.5 million 40-year fixed-rate loan for the preservation of the Hunder Building, a classic three-story brick building with 39 apartments for seniors 60 and older in downtown Fall River.
TYPE: Adaptive reuse.
WHERE: 105 Main Street, Fall River.
WHAT: Preservation of 39 mixed-income apartments for seniors.
AFFORDABILITY: At least eight units affordable to households at or below 50 percent of area median income.
MHP FINANCING: $3.5M million loan.