585-593 Broadway

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.

Date Completed 2003
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"