Sponsor: Dan Chea
Loan Approved: January 30, 1997
MHP committed $230,625 in financing to help private developer Dan Chea preserve nine rental units in Lowell.
TYPE: Preservation.
WHERE: 423-433 Broadway, Lowell.
WHAT: The preservation of nine rental units.
AFFORDABILITY: Seven units will be affordable at 50 percent of the area median income (AMI).
MHP FINANCING: A permanent plus first mortgage loan of $170,000 and a second mortgage loan of $60,625.