The Neighborhood Developers acquired the occupied 24-unit property at 585–593 Broadway in 2000. TND conducted a moderate rehab of the property’s one- and two- bedroom units, and preserved affordability.
|Development Type||Moderate rehab|
|Number of Homes||24 rental apartments|
|Affordability||"11 units < 50% AMI, 8 units < 60% AMI, and 5 market-rate units"|
|Permanent Financing||Massachusetts Housing Partnership|
|Subordinate Debt||City of Chelsea; North Suburban Consortium HOME Program|
|Additional Funds||"NeighborWorks America; The Neighborhood Developers, Inc.; MassDevelopment; CharlesBank Homes"|