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Boston & New England  + Metro Boston  + Finance  | 

MassHousing Provides CommonWealth Builder Funds for Amherst Condos

MassHousing has provided $9.9 million in CommonWealth Builder financing for the development of Amherst Community Homes in Amherst, which will create 30 new condominiums for purchase by moderate-income, first-time homebuyers. 

Valley Community Development is developing the new homes in 15 duplex buildings in North Amherst with 10 of the units restricted to homebuyers earning up to 80% of the Area Median Income (AMI) and 20 restricted to homebuyers earning up to 100% of AMI. 

“This project will turn an underutilized area in the town into 30 brand new homes for first-time homebuyers,” said MassHousing CEO Chrystal Kornegay. “The people who purchase these homes will be able to set down roots in Amherst and begin building wealth, along with all the other benefits of homeownership.” 

In addition to funding from MassHousing, Greenfield Cooperative Bank is providing $4 million in construction financing and the Town of Amherst is providing $1.475 million in Community Preservation Act and Affordable Housing Trust Fund financing.     

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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