Claremont Cos. Receives $17.6M in Refinancing for Seniors Housing Community in Massachusetts

Solemar-South-Dartmount-MA

The 25-building Solemar at South Dartmouth features 100 affordable and 100 market-rate apartments for seniors.

SOUTH DARTMOUTH, MASS. — Claremont Cos. has received $17.6 million in affordable housing financing from MassHousing for the refinancing of Solemar at South Dartmouth. The refinancing of the mixed-income seniors housing community preserves the affordability of the property’s 100 affordable units through 2034. Claremont Cos. refinanced the property through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with lender partner Rockport Mortgage Corp. Built in 1977, Solemar at South Dartmouth features 200 mixed-income rental units across 25 buildings. Fifty of the affordable units are rented to residents earning at or below 50 percent of the area median income (AMI), and 50 are rented to residents earning at or below 80 percent of AMI. The remaining 100 units are rented at market rate.

Tagged loans

Comments

Post a Comment

Popular posts from this blog

Shooting at Eagle Landing Apartments

 One man was shot in the head and another received a gunshot wound to the hand during a shooting incident Wednesday night at Eagle Landing Apartments . Police have a man they said was responsible for the shootings in custody.      Ted William Bailey Jr ., 21, Eagle Landing Apartments , was first rushed to East Georgia Regional Medical Center , then flown by helicopter to Memorial Health University Medical Center in Savannah for treatment of a gunshot wound to the head, said Statesboro Police Capt . L. C. Williams.     Bailey and another victim, Edward Matthews, 21, also of Eagle Landing Apartments , were shot during an altercation that took place at an Eagle Landing Apartments residence around 10:05 p.m. Wednesday, he said.     Apparently a third roommate was responsible for the shootings, Williams said. A few hours after the shooting incidents ,  around 12:50 a.m. Thursday, Arquelio Gillespie Jr . "turned himself in," he said.      Statesboro Police Officer Jeff Williams ...
Read more

Bella Terra - Jackson, NJ

Image
_____________________________________________ Join Bella Terra where retirement is not filled with to-dos but want-tos. With weekly movie nights , shopping trips and local area attractions to visit, such as the Turkey Swamp Wildlife Management Area or the Metedeconk National Golf Club , you will not lack for activities to pursue and friends to share a laugh with. Bella Terra is one of many retirement apartments owned by the Senior Lifestyle Corporation . We pride ourselves on creating senior living communities that enable seniors to live healthy and fulfilling lives, and our Wellness Everyday™ program offered at every community is praised by the International Council on Active Aging. Featured Amenities You will find your day filled with activities offered through our Brain Health University™ programming, exercise classes at the fitness center that has an indoor swimming pool or the library where residents gather to socialize. In the community dining room , fresh and seasonal cuis...
Read more

Details into Minnetonka officer-involved shooting may not be released for weeks

  The questions haunting relatives and friends of an Austin, Minn., man shot and killed by Minnetonka police may remain unanswered for months. The Hennepin County Sheriff ’s Office is investigating the officer-involved shooting of Michael Tray, 27, in an apartment parking garage on Wednesday, but in similar cases, it’s taken months before details are publicly released. It was the first officer- involved fatal shooting in Minnetonka history and at least the sixth such death statewide so far this year, according to the state Bureau of Criminal Apprehension. Although Tray was carrying a gun, family and friends say the lack of details about what prompted police to shoot makes coping with his death and preparing for his funeral Tuesday all the more difficult. “My heart goes out to them [the Minnetonka police officers involved ],” Tray’s stepfather, Jim Greer, of Austin, said Friday, “but on the other hand, my 27-year-old stepson is dead. … I don’t understand.” Police were called to the ...
Read more