May 27, 2020
MassHousing has provided $25.6 million in affordable housing financing to the Lena Park Community Development Corp. for the renovation and extension of affordability for lower-income residents at the 143-unit Granite Lena Park in Dorchester.
The community was last substantially renovated in the 1980s. The Lena Park Community Development Corporation will utilize the MassHousing financing to make substantial investments in the Granite Lena Park properties, and position them to continue serving lower-income Boston residents. The 143 apartments are subsidized by a federal Section 8 Housing Assistance Payment contract.
Planned property improvements include significant apartment upgrades, balcony, window and masonry replacement or repairs, fire safety and accessibility upgrades, thermal and moisture protection and water drainage improvements.
MassHousing is providing Lena Park CDC with a $16.3 million tax-exempt construction and permanent loan and a $9.3 million bridge loan.
For comments, questions or concerns, please contact David Cohen