Caritas Communities owns and operates 30 single-room apartment buildings in Greater Boston. The over 1,000 men and women who live in Caritas homes are the ones who need it most – over 70 percent have been homeless, 20 percent have been chronically homeless for two consecutive years, and 60 percent earn less than $15,000 a year. Miguel Padilla is one of those people and his success story illustrates why the work Caritas does is so important.
Jessica Grady was picked to live at Mashpee's Great Cove on her birthday and she says it's the best present she's ever had. Watch and read how MHP's dedication to finding ways to build and finance small-scale affordable housing helped Grady keep her children on the Cape near family and friends.
The story behind Lawrence Community Works' effectiveness is a core of dedicated leaders who came to the city while in college, fell in love with it and remained to work at making it a better place every day.
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.