Posted on March 19, 2026
Housing builds hope for new beginnings. Our Rental Finance team is dedicated to providing financing solutions that help make hope a reality for families and communities. Here are recent highlights:
733 Broadway | Lowell
For State Representative Tara Hong, the December 16th celebration at 733 Broadway was much more than a ribbon cutting. It was an opening of doors. “Doors to stability, doors to opportunity, and doors to the future where families, seniors, and working people can continue to call Lowell home,” he said before a standing-room-only crowd. “That’s why affordable housing is not just a policy goal. It’s a human need.”
The development by Tremont Development Partners LLC consists of a single, four-story building, including parking spaces at grade level and three floors of apartments. The development has received Passive House certification. 733 Broadway offers 52 affordable apartments near local parks, grocery stores, restaurants, schools, and public transit.
The site, in Lowell’s historic Acre neighborhood, formerly served as the home of the Merrimack Valley Food Bank, which has since relocated to a new facility in Lowell. The majority of the existing building was demolished, with select areas of the historic façade retained and restored. MHP is providing $5.4 million in permanent financing. Three apartments are set aside for families at risk of homelessness and three are ADA accessible.
Solimine House 4 & 9 | Lynn
Developer 2Life Communities held a groundbreaking ceremony December 19, 2025, to mark the start of construction on the Solimine House affordable senior living community in Lynn.
The new community for adults age 62+ is being developed on the former site of Union Hospital, abuts the Mass General Brigham Medical Center, and will connect via a walkway to a newly constructed Program of All-Inclusive Care for the Elderly Center operated by Element Care.
Solimine House will comprise 150 residential units in three interconnected wings arranged around a central courtyard, which will connect to public green space, walking paths, and seating areas.
MHP approved a $5,182,300 loan for the 9 percent LIHTC component and an $11,698,700 loan for the 4 percent LIHTC component.
The site is near restaurants and small businesses as well as Interstate 95. Bus service provides easy access to local shopping.
Highly efficient, sustainable, and resilient building techniques, such as design to Passive House standards, brings improved health, economic, and environmental benefits to residents while addressing the important objective of reducing our carbon footprint.
The project is also designed to the highest standards of universal design.
10 Sunnyside Ave. | Arlington
Loan amount: $6,900,000
A groundbreaking-construction party was held March 10th for 10 Sunnyside Avenue, a five-story building with 43 one-, two-, and three-bedroom affordable apartments. MHP is providing $6.9 million in permanent financing for this Passive House development.
Four apartments will be leased to the Somerville Homeless Coalition for their clients receiving enhanced services. Eight apartments will be supported by a project-based Section 8 contract. This all-electric project will have common laundry facilities on each floor, a community room equipped with resiliency features to serve as a refuge during emergencies, office/meeting space, outdoor space through a second-floor deck with plantings, 21 parking spaces, bicycle parking, three EV charging spaces, and a rooftop solar array. Resident services will be provided by the Housing Corporation of Arlington social service manager and social service coordinator.
Services will include intake and subsequent assessment of residents' needs, support in applying for rental assistance including state Residential Assistance for Families in Transition (RAFT), coordination of services available through local community organizations, and adult learning opportunities including financial literacy.
For more information about MHP’s financing programs, contact MHP Director of Business Development Nancy McCafferty or MHP’s Senior Relationship Manager Alma Balonon-Rosen