Innovative Financing to Create and Sustain Healthy, Equitable Communities
Developments > Putnam Square Apartments

Putnam Square Apartments

Project at a Glance:
Development Type:
Rental,Senior Housing
Project Type:
Adaptive reuse of historic building
MHIC Financing:
$2,000,000 in debt financing, $7,857,757 in LIHTC financing
Homeowners Rehab, Inc.
Number of Units:
Date Completed:

MHIC’s $2 million acquisition loan - which was a 33% participation in a $6 million loan led by CEDAC - was used by the sponsor to purchase an 11-story, 94-unit affordable rental apartment building for the elderly and disabled. The building, located on Auburn St. near Harvard Square, was built in 1974 and is in good condition but will undergo moderate renovations.