The Cambridge Housing Authority (CHA) has acquired Harry S. Truman Apartments, a 59-unit affordable seniors housing community in Cambridge.
MassDevelopment issued $18.7 million in tax-exempt bond financing for CHA’s acquisition and renovation of the property. In addition, MassDevelopment assisted the Massachusetts Department of Housing and Community Development with the approval of federal low-income housing tax credits, which will provide approximately $13.8 million in equity for the project.
The bonds were purchased by Boston Private Bank.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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