Developments > Beaver Brook
MHIC provided financing to enable Frank Gorman, the project’s developer, to rehabilitate a vacant mill building to create 47 rental apartments, 12 of which will be affordable.
Beaver Brook
Project at a Glance:
Location:
Dracut
Development Type:
Rental
Project Type:
Rehabilitation/adaptive reuse of mill building
MHIC Financing:
$6,015,000 in debt financing
Sponsor:
Frank Gorman
Number of Units:
50
MHIC provided financing to enable Frank Gorman, the project’s developer, to rehabilitate a vacant mill building to create 47 rental apartments, 12 of which will be affordable.