MHIC Closes $8.8MM LIHTC Investment to 4 Mellen Street

We are thrilled to announce that last Friday MHIC officially closed a $8.8 million LIHTC investment to 4 Mellen Street! This equity investment will fund the redevelopment of an underutilized property into a 29-unit, 100% affordable rental development located just outside Harvard Square in Cambridge.

The project will involve the renovation of an existing 3-story historic mansion and the construction of a new 6-story Passive House building on the existing parking lot. The design will prioritize family-sized apartments, with 65% of the units being 2- and 3-bedroom units.

We are so proud to be a part of this project, and a huge thank you to HRI, Executive Office of Housing and Livable Communities, City of Cambridge, Citizens, and MHP (Massachusetts Housing Partnership) for all your work on this project.