MHP’s early technical assistance and long-term financing helped the Brookline Housing Authority turn a parking lost into 32 afffordable apartments, creating new opportunities for families like the Lebrons.
With 40B project eligibility letters and long term financing from MHP, Campanelli Construction teams with Thorndike Development to build mixed-income apartments in Norwood and Norton. In Norwood, one apartment is helping and her mother and son continue their journey out of homelessness.
Commonwealth Land Trust Executive Director Ellen Tan talks about how MHP’s financial support helped her organization turn one of Lawrence’s most notorious apartment buildings into 69 apartments and the first step in recovery for the homeless, low-income and people struggling with addiction.
Caritas Communities is one of Greater Boston’s most effective providers of homes for low-income and homeless individuals. Recently, MHP helped Caritas ensure that it can fulfill is mission for years to come with a 40-year, low-interest, fixed-rate loan through its Treasury Risk Share Program.
After historic preservation pioneer Bob Kuehn passed away, the future of Cable Mills was on hold. Then developer Bart Mitchell teamed with Dave Traggorth stepped in and turned the factory near downtown into 61 mixed-income apartments, thanks in part to a $9.8 million loan from MHP.
Three owners of affordable housing in gateway cities have used Fannie Mae loans from MHP to ensure their affordability for years to come.
MHP used the Treasury Risk Share Program to support Marathon Development’s ongoing efforts to stabilize New Amsterdam Apartments – 67 apartments in downtown Pittsfield. MHP refinanced an original $2 million loan with a 40-year loan while reducing the interest rate from 6.78 to 3.5 percent.
From 2006 through 2015, First Resource Companies acquired and rehabilitated 816 apartments throughout Springfield. Under the hands-on leadership of Gordon Pulsifer, the company was credited with turning around neighborhoods.