Sponsor: Merrimack Valley YMCA
Loan Approved: September 10, 1993
MHP committed $1.23 million in permanent rental financing to help Merrimack Valley YMCA construct 73 new SRO units in Lawrence.
TYPE: New.
WHERE: 40 Lawrence Street, Lawrence.
WHAT: The new construction of 73 SRO units.
AFFORDABILITY: 55 units will remain affordable for residents earning up to 80 percent of the area median income (AMI) and the remaining 13 units will be affordable for residents earning at or below 50 percent AMI.
MHP FINANCING: A permanent first mortgage loan of $1.23 million.