Developments > Alexander Magnolia
Alexander Magnolia added some badly needed affordable housing to the Uphams Corner neighborhood of North Dorchester. The project is one of 5 tax credit limited equity cooperative projects sponsored by CDCs the City of Boston and the Metropolitan Boston Housing Partnership Inc. in which MHIC has invested. Developed under a program called the Boston Co-Op Initiative the homes were designed to reflect the Victorian architecture of existing homes in the neighborhood. All units were made available to families making less than 60% of median income.
Alexander Magnolia
Project at a Glance:
Location:
Boston
Development Type:
Rental
Project Type:
New construction
MHIC Financing:
$1,000,000 in debt financing, $4,630,500 in LIHTC financing
Sponsor:
Dorchester Bay Economic Development Corporation
Number of Units:
38
Alexander Magnolia added some badly needed affordable housing to the Uphams Corner neighborhood of North Dorchester. The project is one of 5 tax credit limited equity cooperative projects sponsored by CDCs the City of Boston and the Metropolitan Boston Housing Partnership Inc. in which MHIC has invested. Developed under a program called the Boston Co-Op Initiative the homes were designed to reflect the Victorian architecture of existing homes in the neighborhood. All units were made available to families making less than 60% of median income.