Urbanica, Inc Secures $2.35M Construction Loan For Affordable Housing Development In Dorchester

Urbanica, Inc. has secured a $2.35 million construction loan for the development of 15 affordable homeownership units located at 120-122 Hancock Street in Dorchester, MA. The loan is provided by Chrystal Kornegay and Jeanne Pinado of MassHousing. This project aims to assist first-time moderate-income buyers in the area.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,350,000
• Lender: Chrystal Kornegay & Jeanne Pinado - MassHousing
• Landlord: Urbanica, Inc
• Address: 120-122 Hancock Street, Dorchester, MA

Chrystal Kornegay and Jeanne Pinado, representing MassHousing, have provided the construction loan for Urbanica, Inc.'s development of 15 affordable homeownership units in Dorchester. This initiative is aimed at supporting first-time moderate-income buyers in the region.