Sponsor: Mike Interbartolo Jr. and Joseph Ricupero
Loan Approved: March 3, 1995
MHP committed $410,500 in permanent rental financing to help private developers Mike Interbartolo Jr. and Joseph Ricupero preserve eight new SRO units in Peabody and North Andover.
TYPE: New construction.
WHERE: 270 Green Street, North Andover; 6 Murray Street, Peabody.
WHAT: The new construction of eight SRO units.
AFFORDABILITY: Two units will remain affordable to residents earning at or below 50 percent of the area median income (AMI).
MHP FINANCING: A permanent first mortgage loan of $410,500.