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Somerville 100 Homes and 49 More Homes
Somerville, MA
United States
35-37 Linden Street is two side by side townhouses offering three affordable rental apartments, located one block from the planned Union Station Green Line Extension T-Stop. The property was acquired by Somerville Community Corporation (SCC) with a $1.2 million acquisition loan from MHIC.
Sponsor
Somerville Community Corporation
Source
Acquisition Loan
Financing Total
$1,200,000
Impact
The 35-37 Linden Street project completes the City of Somerville’s 49 More Homes program, an expansion of the city’s 100 Homes program, launched in 2015 in collaboration with SCC and MHIC. The program’s goal was to preserve and create affordable housing by acquiring properties on the market that might otherwise be lost to speculators.