In New England Real Estate Journal: MassHousing closed on $32.8m financing to to the Madison Park Development Corp. for 131-unit Haynes House
MassHousing has closed on a total of $32.8 million in affordable housing financing to the Madison Park Development Corp. (MPDC), for the preservation of affordability and property rehabilitation at the 131-unit Haynes House, located at located at 735 Shawmut Ave. The MassHousing refinancing will extend affordability for households with a range of incomes in perpetuity, following the expiration of previous affordability restrictions with the maturation of the property’s former Section 13A mortgage in 2017.
In the Bay State Banner: Whittier Street housing redevelopment underway
Since 1953, the red brick buildings of the Whittier Street public housing development towered over the corner of Tremont and Ruggles Street.
Over the decades, much changed around them: In the 1960s, homes and stores were leveled for the aborted extension of Interstate 95 through Roxbury. In the 1980s, the Orange Line was relocated to the Southwest Corridor with a new station at Ruggles Street. In the 1990s, the new Boston Police Department headquarters was built across the street.
Press Release: MassHousing Closes $33.1M for Extension of Affordability, Property Rehabilitation at Haynes House in Roxbury
MassHousing Closes $33.1M for Extension of Affordability, Property Rehabilitation at Haynes House in Roxbury
On Multi-Housing News: Affordable South Boston Community Receives $33M Loan
Madison Park Development Corp. has obtained a $33.1 million loan for preserving the affordability of Haynes House. The 131-unit community in Roxbury, Mass., will also undergo a rehabilitation process.