Developments > St Joseph Hall
MHIC’s LIHTC investment is being used to finance acquisition, renovation and preservation of 25 units of senior housing in Watertown. The project developer purchased the property in March 2012 from the Dominican Sisters of Peace. The seller was interested in keeping the property affordable but also under pressure to sell because of increasing maintenance problems and the desire to transfer responsibility for overseeing the property. In buying the property, the sponsor will insure that the units stay affordable and undergo much needed capital improvements.
St Joseph Hall
Project at a Glance:
Location:
Watertown
Development Type:
Rental,Senior Housing
Project Type:
Rehabilitation
MHIC Financing:
$1,475,517 in LIHTC financing
Sponsor:
Metro West Collaborative Development Inc
Number of Units:
25
MHIC’s LIHTC investment is being used to finance acquisition, renovation and preservation of 25 units of senior housing in Watertown. The project developer purchased the property in March 2012 from the Dominican Sisters of Peace. The seller was interested in keeping the property affordable but also under pressure to sell because of increasing maintenance problems and the desire to transfer responsibility for overseeing the property. In buying the property, the sponsor will insure that the units stay affordable and undergo much needed capital improvements.