Congratulations to the Life Insurance Community Investment Initiative in closing a $10.1MM loan for the benefit of 92 Grand Street Commons LLC, an affiliate of Main South Community Development Corporation. The proceeds of the loan will finance the acquisition and development of a mixed-use development known as Grand Street Commons at 92 Grand Street, Worcester, Massachusetts. The project will reclaim a vacant, blighted 95,000 sq ft lot located in Main South’s University Park neighborhood and provide 46 affordable residential rental housing units and 2 commercial units for residents of Worcester, while incorporating sustainable development features, including photo-voltaic panels on the roofs.
GROUNDBREAKING CEREMONY FOR HAYWOOD HOUSE
Congratulations to the Newton Housing Authority on the ceremonial groundbreaking for Haywood House, a 55-unit affordable residential building for seniors at 111 JFK Circle Newton, Massachusetts. On April 27, 2021, the following lenders provided loans in the aggregate...