210 Broadway
Chelsea, MA
United States
Through an increase of $655,000 to an existing predevelopment loan from MHIC, The Neighborhood Developers, Inc. (TND) will cover costs associated with consolidating the 210 Broadway property with several other developments in Chelsea, MA, collectively known as the Chelsea Homes I/Broadway project.
In 2017, MHIC provided financing to TND to purchase 210 Broadway as part of a larger plan to combine multiple properties into one LIHTC transaction. It was MHIC’s first loan from the CMF Affordable Housing Fund. The property is on the main thoroughfare that runs through the Chelsea Square historic district. The increase will be used to fund architecture, engineering, legal and environmental costs incurred prior to the closing of the Chelsea Homes I/ Broadway project.