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METRO NORTH HOUSING CORP, IN COLLABORATION WITH BREAD OF LIFE, INC, FINANCES THE ACQUISITION AND FINANCING OF A MULTIFAMILY AFFORDABLE HOUSING PROJECT AND FOOD  PANTRY IN MALDEN

by | Nov 10, 2022 | Affordable Housing, Community Development, MultiFamily Housing, News & Events, Non-Profit Organizations

Congratulations to Metro North Housing Corp. in closing the financing of Unit 2 of the 54 Eastern Malden Condominium Trust, which will finance the construction of a multifamily affordable housing project at 54 Eastern Avenue in Malden. Through financing from Eastern Bank and several public lenders, Unit 2 of the Eastern Malden Condominium Trust will create 14 units of affordable housing for formerly homeless and extremely low income residents, while Bread of Life, Inc. will operate Unit 1 as a food pantry to combat food insecurity in the city of Malden.

MARION VILLAGE ESTATES REFINANCES FHA-INSURED AFFORDABLE HOUSING

Congratulations to Marion Village Estates LLC in closing a $3,832,200.00 loan from ORIX Real Estate Capital, LLC in order to refinance the property at Front Street in Marion, Massachusetts. Marion Village Estates provides 60 units of affordable rental housing to the...

GROUNDBREAKING CEREMONY FOR DRACUT CENTRE SCHOOL

Congratulations to Coalition for a Better Acre, Inc. on the ceremonial groundbreaking for Dracut Centre School, a new 9-unit affordable residential building in the historic school building at 11 Spring Park Avenue, Dracut, Massachusetts. On April 15, 2021, Coalition...

EASTERN BANK CLOSES TAX EXEMPT MULTIFAMILY HOUSING BOND FINANCING

Congratulations to Eastern Bank in closing a $10.5MM loan for the benefit of Cabot Housing LLC, an affiliate of the Young Men’s Christian Association of the North Shore, Inc. Eastern Bank purchased tax exempt bonds from Massachusetts Development Finance Agency and...