From Multi-Housing News:
The Cambridge Housing Authority has obtained $82 million in financing for the renovation of Millers River Apartments, an affordable housing community that serves low-income households in Cambridge, Mass. MassHousing closed on the loan through the agency’s conduit loan program.
Located at 15 Lambert St., Millers River is within a 10-minute drive of downtown Boston. The 19-story property currently consists of 282 units, but three new apartments are slated to be added following renovation works. Thirty units will be set aside for households earning at or below 30 percent of the area’s median income and 255 apartments will be for families earning at or below 60 percent of the AMI, which in Cambridge is $79,350 for a one-person household and $90,650 for a two-person household.
Read Multi-Housing News' article "Affordable Boston-Area Community Receives $82M Loan," featuring the Cambridge Housing Authority.