Developments > Putnam Green
This new housing development, built by Homeowner’s Rehab, Inc. in the Cambridgeport area of Cambridge, creates 40 new units of affordable rental housing. It represents the first residential development to be built under new zoning regulations that were the result of years of planning by the Cambridgeport community to rezone the neighborhood and encourage residential development. A three-story vacant laboratory building was demolished to make room for the new 4-story building. MHIC provided a $6.8 million low-income housing tax credit equity investment with TD Bank as the sole investor.
Putnam Green
Project at a Glance:
Location:
Cambridge
Development Type:
Rental
Project Type:
New construction
MHIC Financing:
$6,775,344 in LIHTC financing
Sponsor:
Homeowners Rehab, Inc.
Number of Units:
40
This new housing development, built by Homeowner’s Rehab, Inc. in the Cambridgeport area of Cambridge, creates 40 new units of affordable rental housing. It represents the first residential development to be built under new zoning regulations that were the result of years of planning by the Cambridgeport community to rezone the neighborhood and encourage residential development. A three-story vacant laboratory building was demolished to make room for the new 4-story building. MHIC provided a $6.8 million low-income housing tax credit equity investment with TD Bank as the sole investor.