MassHousing Provides $13.9M Loan To Silver Street For Jaycee Place Rehabilitation In Lowell

The extensive rehabilitation and refinancing of Jaycee Place, a 138-unit affordable housing community in Lowell, MA, has received $13.9 million in affordable housing financing from MassHousing. The loan has been provided to Silver Street, the landlord of the property, and will support the efforts to improve and enhance this affordable housing community.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $13,900,000
• Address: 22 Bowers St, Lowell, MA
• Market: Lowell, MA
• Units: 138

MassHousing, represented by Chrystal Kornegay as the lender, has played a crucial role in supporting the rehabilitation and refinancing of Jaycee Place. The loan provided by MassHousing will ensure the availability of affordable housing options for the residents of Lowell, MA. Under the ownership of Silver Street, led by Matthew Kesselhaut, the property will undergo extensive improvements to enhance the living conditions of the community members.