Developments > New Court Terrace
It involves the acquisition and rehabilitation of 45 units of housing in 3 buildings and constrution of off-street parking located on Byers and Spring Street, respectively, in the Quardrangle-Mattoon Historic District Boundary Extension of the City of Springfield, a National Register district. All units are affordable to households at or below 60% of median, and 5 units affordable to households at or below 30% of median. 29 of 45 units are SRO units whose residents will benefit from easy access to a wide variety of supportive services in nearby central downtown Springfield, including services for physical, mental, and/or developmental disabilities and to those with substance dependency issues. It is located two buildings away from HAP's successful Quadrangle Court project, an MHEF 1997 project investment. The sponsor is HAP, Inc, founded in 1972, a nonprofit organization based in Springfield and serving Hampden and Hampshire counties in western Massachusetts. The owner of the project is NewCourt Terrace LLC, and Kibbe Court, Inc. is the Managing Member.
New Court Terrace
Project at a Glance:
Location:
Springfield
Development Type:
Rental
MHIC Financing:
$5,946,571 in LIHTC financing
Sponsor:
Way Finders
Number of Units:
45
It involves the acquisition and rehabilitation of 45 units of housing in 3 buildings and constrution of off-street parking located on Byers and Spring Street, respectively, in the Quardrangle-Mattoon Historic District Boundary Extension of the City of Springfield, a National Register district. All units are affordable to households at or below 60% of median, and 5 units affordable to households at or below 30% of median. 29 of 45 units are SRO units whose residents will benefit from easy access to a wide variety of supportive services in nearby central downtown Springfield, including services for physical, mental, and/or developmental disabilities and to those with substance dependency issues. It is located two buildings away from HAP's successful Quadrangle Court project, an MHEF 1997 project investment. The sponsor is HAP, Inc, founded in 1972, a nonprofit organization based in Springfield and serving Hampden and Hampshire counties in western Massachusetts. The owner of the project is NewCourt Terrace LLC, and Kibbe Court, Inc. is the Managing Member.