Boston Metro Region
LBB Apartments - Urban Edge
Dorchester and Mattapan 2012
In the mid-1980s the Lena Park Community Development Corporation acquired and renovated LBB Housing, a 103 unit scattered site development located in Dorchester and Mattapan. Lena Park CDC has partnered with Urban Edge Housing Corporation to restore LBB Housing to financial and physical health. The project consists of the moderate rehabilitation of 8 low-rise, brick masonry buildings that were constructed in the early 20th century.
PCI is providing the construction loan with the Massachusetts Housing Investment Corporation as a 50% participant. MassHousing will provide the permanent loan.
PCI and MassHousing have structured the loan to allow Urban Edge to make use of the 4% Low Income Housing Tax Credits that accompany MassHousing's tax exempt financing.
PCI Loan Amount: $12,000,000
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