MHP Provides $2M Loan for Affordable Housing Community in Roxbury
The Massachusetts Housing Partnership (MHP) has provided a $2 million permanent loan to help preserve the affordability of the Brook Avenue Apartments, a scattered site development of 36 three-bedroom townhouse apartments in Roxbury.
The financing from MHP completes a $10.9 million acquisition and rehabilitation of the property by EA Fish Development from the original developer, Veterans Benefits Clearinghouse Development Corp. Terms of financing included a 17-year term and a 30-year amortization schedule.
“Brook Avenue symbolizes the revitalization of Dudley Street neighborhood, and we’re proud to support EA Fish Development and Peabody Properties’ efforts to ensure that these affordable homes serve neighborhood residents for years to come,” said Clark Ziegler, executive director at MHP.
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