MHIC is proud to announce that we’ve partnered with Community Economic Development Assistance Corporation (CEDAC) in support of Urban Edge Housing Corporation's Theroch Apartments project.
MHIC/CEDAC closed a $1 million loan to help fund predevelopment costs including architectural, engineering, and legal fees in preparation for the renovation financing. The renovation will include a three-phase restoration of a 191-unit scattered-site residential development, including both single- and multi-bedroom apartments. This project spans across 16 buildings and is restricted to households below 50% AMI.
MHIC is proud to partner with CEDAC on this loan, and to continue investing in Roxbury and Dorchester. And, a huge congratulations to Urban Edge for sponsoring this project. We can’t wait to see the positive impacts this restoration has on these communities.
MHIC Closes $750,000 Pre-Development Investment
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