Developments > Stony Brook Westford
This project involved the creation of 15 new units of affordable rental housing. It is the first loan MHIC did with Community Teamwork, Inc. (CTI), a 40-year-old Lowell, Massachusetts-based non-profit providing economic assistance through Community Action Programs in Greater Lowell. CTI also serves Northern Middlesex County and Essex County as a regional housing agency, and its Child Care Program serves a region extending from Metro-West to Worcester. MHIC provided a $1.7 million construction loan for the project, built under the State’s Suburban Rental Pilot Program Initiative on an 18,000 square feet site within walking distance of an elementary school.
Stony Brook Westford
Project at a Glance:
Location:
Westford
Development Type:
Rental
Project Type:
New construction
MHIC Financing:
$1,698,363 in debt financing
Sponsor:
Community Teamwork, Inc.
Number of Units:
15
Date Completed:
9/28/2005
This project involved the creation of 15 new units of affordable rental housing. It is the first loan MHIC did with Community Teamwork, Inc. (CTI), a 40-year-old Lowell, Massachusetts-based non-profit providing economic assistance through Community Action Programs in Greater Lowell. CTI also serves Northern Middlesex County and Essex County as a regional housing agency, and its Child Care Program serves a region extending from Metro-West to Worcester. MHIC provided a $1.7 million construction loan for the project, built under the State’s Suburban Rental Pilot Program Initiative on an 18,000 square feet site within walking distance of an elementary school.