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$41M Affordable Financing Locks 150-Unit Mixed-Income Community in Sunderland
MassHousing has closed on $41.2 in affordable housing financing to Atlanta, GA-based Landmark Properties, Inc., for the newly constructed, 150-unit North 116 Flats in Sunderland, MA.
North 116 Flats was developed under the state’s comprehensive permit law, Chapter 40B. The property offers 38 family apartments affordable to households earning at or below 80 percent AMI ($82,900 for a household of four).
The property’s remaining 112 apartments are rented at market rates and targeted toward students. North 116 Flats is three miles north of the University of Massachusetts at Amherst and adjacent to a bus line that runs into downtown Amherst and UMass Amherst.
The residential community contains five, three-story garden-style buildings; community building; entertainment, fitness and study areas; outdoor greenspace; dog parks; grilling stations and fire pits.
The general contractor for North 116 Flats was Western Builders and the architect was Stuart I. Roosth. The management agent is Landmark Management Ventures.
- ◦Development
- ◦Financing
