MassDevelopment Provides $17M Loan For Wamsutta Apartments Redevelopment In New Bedford

The renovation of Wamsutta Apartments, a 144-unit affordable-housing property located at 184 State Street in New Bedford, Mass, has secured $17 million in tax-exempt bond financing. The lending was provided by Dan Rivera of massdevelopment-da593d83-ca15-42ac-959f-85e6fad6396b-duplicate''>MassDevelopment, the state development finance agency.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,000,000
• Units: 144
• Lender: Dan Rivera - MassDevelopment

MassDevelopment, through Dan Rivera, has played a vital role in supporting the renovation efforts of Wamsutta Apartments, contributing to the preservation of affordable housing in New Bedford, MA. The transaction showcases the commitment of stakeholders to improve and sustain accessible housing options in the community.