MassHousing Provides Funding for Affordable Condos on Cape Cod
MassHousing has provided $10 million in CommonWealth Builder (CWB) financing to the nonprofit Housing Assistance of Cape Cod for the development of Cornerstone Homes in Hyannis, which will deliver 46 new condominium units for purchase by moderate-income, first-time homebuyers and four units that will be used for rental housing. The 50 new condo units will be developed in a three-story building on a vacant lot in downtown Hyannis, formerly occupied by a car dealership.
“Like many areas across the Commonwealth, Cape Cod has high housing costs, and these affordable homes will allow the future residents to start accumulating wealth that they one day may pass to a new generation,” said MassHousing CEO Chrystal Kornegay.
In addition to CWB funding, the project includes $15.3 million in construction financing from Eastern Bank, $1.5 million in Town of Barnstable American Rescue Plan Act funding and $1 million from the Barnstable Affordable Housing Growth and Development Trust Fund.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
Learn more
312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout