Sponsor: Mike Interbartolo Jr. and Joseph Ricupero
Loan Approved: December 4, 1992
MHP committed $675,000 in permanent rental financing to help private developers Mike Interbartolo Jr. and Joseph Ricupero construct 16 new affordable SRO units in Granby and Ware.
TYPE: New.
WHERE: 171 Upper Church St. and 178 Greenwich Plains Rd., Ware and 225 Chicopee St., Granby.
WHAT: New construction 16 SRO units.
AFFORDABILITY: 12 units will be affordable to residents earning at or below 80 percent of the area median income (AMI) and the remaining four SRO units will be affordable to residents earning at or below 50 percent AMI.
MHP FINANCING: A $675,000 permanent first mortgage loan.