MassHousing has closed on $1.9 million in loans for 24 newly constructed affordable units at the Maple Ridge Apartments, bringing to 96 the number of affordable apartments at the development.
MassHousing's $1.2 million permanent loan and $687,953 from the Affordable Housing Trust Fund were for Phase 2 of the project, which added 24 affordable apartments to the 72 affordable rental units built during Phase 1.
MassHousing provided $5.8 million in financing for Phase 1 and the Maple Ridge project, also known as Whitman Woods, is now completed and fully occupied.
"Building new, quality affordable housing is important to the working families of Tyngsborough and the Commonwealth as a whole because affordable housing is a major economic driver to our economy," said MassHousing executive director Thomas Gleason. "The fact that all 96 apartments at Maple Ridge were rented shortly after they were constructed highlights the great need for new affordable housing and the preservation of our existing affordable housing around the state."
Dakota Partners, Inc. of Waltham developed Maple Ridge on the site of a vacant lot in Tyngsborough bordered by Longfellow Lane and Melville Drive. The 96 two-bedroom apartments are contained in four garden style, three-story buildings.
The contractor was Dakota Partners, Inc., the architect was LaFreniere Architects of Cambridge and the management agent is WinnResidential of Boston.