Developments > Turtle Creek
This project involves the acquisition and moderate rehabilitation of an affordable rental housing complex for seniors, owned by the First Baptist Church of Beverly and managed by Harborlight Community Partners. In addition to the 109 housing units, the building includes a manager’s unit, multiple community spaces, laundry facilities and a library. All units are covered by a 20-year HUD Project-Based Section 8 contract that was renewed in 2003. As part of the HUD 223 refinancing, the contract will be will be extended to 2044.
Turtle Creek
Project at a Glance:
Location:
Beverly
Development Type:
Rental,Senior Housing
Project Type:
Rehabilitation
MHIC Financing:
$4,819,207 in LIHTC financing
Sponsor:
Harborlight Community Partners
Number of Units:
109
This project involves the acquisition and moderate rehabilitation of an affordable rental housing complex for seniors, owned by the First Baptist Church of Beverly and managed by Harborlight Community Partners. In addition to the 109 housing units, the building includes a manager’s unit, multiple community spaces, laundry facilities and a library. All units are covered by a 20-year HUD Project-Based Section 8 contract that was renewed in 2003. As part of the HUD 223 refinancing, the contract will be will be extended to 2044.