Blue Mountain Apartments
Tax Credit Rehabilitation of Affordable Housing in Boston, Massachusetts
A 217-unit family complex composed of 19 walk-up buildings built from 1910 to 1930 in the Roxbury neighborhood, Blue Mountain Apartments brings comfortable and historical affordable housing to Boston, MA.
Total Cost
| $101,120,341 |
Description
Blue Mountain Apartments is comprised of 105 one-bedroom units, 73 two-bedroom units, 18 three-bedroom units, 16 four-bedroom units, and 5 five-bedroom units. All units are covered by a project-based Section 8 contract.
Financing
Secured financing and funding for this project included:
| $52,250,000 | MassHousing First Mortgage Loan |
| $30,480,499 | 4% LIHTC Equity |
| $5,521,829 | Federal Historic Tax Credits |
| $5,207,559 | Deferred Developer Fee |
| $4,590,000 | State Historic Tax Credits |
| $3,070,355 | Cash from Operations |