Sponsor: Rick and Payal Malrani
Loan Approved: November 6, 2018
$6M loan to preserve 99 affordable apartments in six buildings built between 1967 and 1974.
TYPE: Preservation
WHERE: Lowell
WHAT: Preservation of 99 apartments.
AFFORDABILITY: All affordable at or below 60% AMI.
MHP FINANCING: $6 million FHA loan.