Sponsor: Urban Edge Housing Corporation
Loan Approved: September 10, 1993
MHP committed $1.7 million in permanent rental financing to help Urban Edge Housing Corporation acquire and rehabilitate 103 affordable rental units in the Roxbury and Dorchester neighborhoods of Boston.
TYPE: Rehabilitation.
WHERE: Scattered sites in Jamaica Plain and Dorchester, including 337 Harvard Street, and 3294-3304 Washington Street.
WHAT: The acquisition and rehabilitation of 103 affordable rental units.
AFFORDABILITY: All units affordable between 30 and 60 percent of area median income.
MHP FINANCING: $1.7 million first mortgage.
FINANCING UPDATE: In 2010, MHP committed $2.7 million in financing to further preserve these units. For this refinancing, Urban Edge brought in Winn Development as co-partner.