MHIC Closes $2.3 Million Investment

MHIC is pleased to announce the closing of a $2.3 million loan to Preservation of Affordable Housing (POAH) for the acquisition of a 36-unit affordable housing community at 17 Osprey Lane in Sandwich, MA.

Originally developed by The Community Builders (TCB), the fully occupied, post-compliance period LIHTC property will continue to be operated by POAH as they work toward securing 4% LIHTC financing for long-term preservation.

A huge thanks to Brigid Ryan and the entire Community Investments team here at MHIC for their hard work and leadership, and continued support of EOHLC, Barnstable County and the Sandwich Housing Authority ensuring the preservation of ongoing affordability of this important affordable housing resource on the Cape.