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Developments > Holcroft II

Holcroft II

Project at a Glance:
Development Type:
MHIC Financing:
$4,968,090 in LIHTC financing
YMCA NorthShore
Number of Units:
Date Completed:

Five buildings were demolished to make way for construction of 29 units of affordable family rental housing in two buildings — one with 20 units and one with nine units, both on Mill Street in the Gloucester Crossing neighborhood of Beverly. The co-sponsors are North Shore CDC and YMCA of North Shore. MHIC provided a $5.1 million low-income housing tax credit investment with member Institution For Savings,. It is the second phase of a two-phase development of ten sites in this neighborhood, which is near Beverly Center and less than a mile from a commuter rail station.