Chrystal Kornegay Of MassHousing Funds $19.2M Loan For Redevelopment Project, Orleans, MA

Development Site located at 19 West Road & 10 Skaket Circle in Orleans, MA, was the subject of a recent transaction involving a loan amount of $19,200,000. Chrystal Kornegay from MassHousing provided the loan for the redevelopment of Cape Cod Five Bank's former operations center into 62 new affordable rental homes, aiming to address the high demand for housing in the area.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $19,200,000
• Market: Orleans, MA
• Lender: Chrystal Kornegay - MassHousing
• Landlord: Charlie Adams - Pennrose LLC

Charlie Adams from Pennrose LLC served as the landlord in this transaction, overseeing the allocation of $19.2 million towards the redevelopment project. The initiative aims to provide 62 new affordable rental homes in Orleans, MA, catering to the pressing need for housing solutions in the Cape Cod region.