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Clinton: Prescott Mills Apartments

Sponsor: Meredith Management Corporation

prescot mill

Loan Approved: November 22, 2011

MHP committed over $5.9 million in financing to help Meredith Management Corporation preserve 101 units of affordable rental housing in Clinton.

TYPE: Preservation.

WHERE: 24 Water Street, Clinton.

WHAT: The preservation of 101 rental units for elderly, disabled, and family tenants in a former mill building.

AFFORDABILITY: All apartments will be affordable at 50 percent AMI.

MHP FINANCING: A permanent first mortgage of $5,933,000.

RENTAL INFORMATION: Meredith Management Corporation, 617-965-2200.

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