MassHousing Aims to Preserve Dorchester Affordable Senior Housing by Closing $6.6 Million Loan

MassHousing announced a loan closing of $6.6 million to preserve affordability for senior citizens at the 95-unit Edison Green Apartments in Dorchester. Dorchester Green Limited Partnership, an affiliate of SHP Acquisitions, LLC, which owns the Edison Green Apartments, will seek to extend the federal Section 8 Housing Assistance Payment (HAP) contract and the affordability on 94 apartments for the longest term possible – typically 20 years – when the current HAP contract expires in June 2018. The Edison Green Apartments, originally built in 1979, were refinanced through MassHousing’s Section 8 Proactive Preservation Program, which seeks to extend affordability at MassHousing-financed developments where Section 8 HAP contracts are due to expire.

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