Sponsor: Pennrose
Loan Approved: July 29, 2020
MHP is providing $1.8M in long-term financing to support the revitalization of the historic Mary D. Stone School. Pennrose is developing the site with a Ch. 40B comprehensive permit.
TYPE: New. Adaptive re-use
WHERE: 10 Church St., Auburn
WHAT: New construction of 55 mixed-income apartments for seniors
AFFORDABILITY: 45 units affordable at or below 60% AMI
MHP FINANCING: A $1.8 million permanent first mortgage loan
MORE INFO: News release