Capital One And MHIC Provide $47.6 Million Loan For Development Site In Allston, MA

The asset involved in this transaction is a development site located at 95 Everett Street in Allston, MA. The project includes 88 units as part of a mixed-income development, which aims to provide fully affordable housing along with retail space. The financing obtained totals $47,600,000, and the construction is expected to be completed by summer 2027.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $47,600,000
• Lender: Capital One
• Lender: MHIC
• Location: 95 Everett Street, Allston, MA
• Project Type: Mixed-income development with retail space
• Number of Units: 88
• Completion Date: Summer 2027

Capital One and MHIC are the lenders involved in this deal, jointly providing the financing necessary for the development project aimed at enhancing affordable housing options in the Allston-Brighton area. This Passive House project represents a significant investment in mixed-income living solutions.