Cambridge Trust commits $110 million to MHP to finance affordable rental housing. MORE

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Auburn: Mary D. Stone School Apartments

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

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