Paul L. Oldenburg (Valley Management)
Loan Approved: July 5, 2018
MHP committed to a $700,000 permanent first mortgage loan to help Paul L. Oldenburg of Valley Management to rehabilitate two 4-story buildings with 42 residential rental units.
TYPE: Preservation.
WHERE: 573 State Street/5 Oak Street and 7 Lillian Street/23 Oak Street, Springfield.
WHAT: The rehabilitation of two 4-story buildings with 42 residential rental units in Springfield.
AFFORDABILITY: At least 17 units will be affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $700,000.