We’re excited to announce that last month, MHIC closed a $997,000 Line of Credit to Urbanica to fund predevelopment expenses for projects in Roxbury and Allston!
This critical financing helps Urbanica advance their 75-76 Marcella Street (Roxbury) and 65-79 Seattle Street (Allston) projects through predevelopment and into construction. Once completed, 63 affordable homes will be made available to first-time homebuyers earning no more than 80%-100% AMI.
MHIC is proud to provide early stage support to Urbanica's efforts to create these ownership opportunities, which undoubtedly will have positive effects on local communities. A huge congratulations to Brigid Ryan and the rest of the Community Investment team at MHIC for achieving this closure!
MHIC Closes $997,000 Pre-Development Investment!
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