MassHousing Provides $16.3M Loan For Development Site In Wareham, MA

MassHousing is providing $16.3 million in affordable housing financing to Pennrose, LLC for the development of 49 family and 44 senior affordable apartment homes in Wareham, MA. The development site, located at 4 Littleton Drive, will be transformed into a community that aims to address the need for affordable housing in the area. The loan amount of $16.3 million will support the construction of the apartment homes.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $16,300,000
• Lender: MassHousing - Chrystal Kornegay
• Landlord: Pennrose

Chrystal Kornegay, representing MassHousing, played a crucial role in facilitating the financing for this project. Pennrose, a reputable real estate development company, will oversee the construction and operation of the affordable apartment homes. This initiative aims to address the housing needs of both families and seniors in Wareham, providing them with a safe and affordable place to live.