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MassHousing Provides $15M for Affordable Housing Community in Dorchester
MassHousing has provided $14.8 million in affordable housing financing to School House Brookledge Cummins Limited Partnership, an affiliate of EAF Associates, to preserve the affordability of the 90-unit School House Brookledge Cummins property in Dorchester.
The 90 housing units are contained in two buildings, located at 60 Brookledge St. and 610 Cummins Highway. The Brookledge property is a brick, three-story building constructed in 1910, containing 50 apartments. The Cummins Highway property is a three-story building restricted to elderly residents and residents with disabilities, built in 1980, with 40 apartments. Both properties were renovated in 2008.
The property, which is managed by Peabody Properties Inc., was refinanced through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with lender partner Rockport Mortgage Corporation. MassHousing is providing School House Brookledge Cummins with a $14.8 million, 35-year permanent loan.
For comments, questions or concerns, please contact David Cohen
- ◦Financing
