Rehabilitate an existing two-family house to create 2 units of rental housing, with a total of 4 bedrooms, that will be permanently affordable to households at up to 80 percent of the area median income. For project details & documents, see link from program website, www.newtonma.gov/cpa, under "Proposals & Projects."
Project complete
04-18-2006
Project Category
Project Details
Housing Units
2
0
2
Acres
0
0
0
0
0
0
CPA Funding
$0
$351,025
$0
$0
$0
$351,025
$0
0
$0
Other Funding Sources Leveraged
$0
$40,000
$280,000
$140,000
Short-term/acquisition funding: $607,000 combined Mass Housing Investment Corp & Local Initiatives Support Corp. Long-term funding: $280,000 CDBG, $140,000 bank mortgage, $40,000 foundation grant.
Total Project Cost
$811,025
$460,000
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