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MassHousing Provides $1M For Affordable Housing Community in Newton

MassHousing has provided $1.3 million in affordable workforce housing financing for 28 Austin Street, a 68-unit apartment community in Newton.

The community offers 23 workforce housing units for lower- and moderate-income households. The recently completed 28 Austin Street development is a public-private partnership between Austin Street Partners, a joint venture of Dinosaur Capital Partners and Oaktree Development, and the City of Newton.

MassHousing provided Austin Street Partners with $1.3 million in affordable housing financing from the Agency’s Workforce Housing Initiative. The MassHousing funding was structured to close upon completion of the new housing. Eastern Bank provided $25.7 million in construction and permanent financing for the project.

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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Financing