MassHousing said it closed on $9 million in financing to Dakota Partners, Inc., to support the development of Phase I of the Woodland Cove affordable rental housing community in Wareham, MA.
Dakota Partners is developing the eight-acre site in three phases and Phase I will involve the construction of 63 new rental homes, including seven workforce housing units. Overall, the three-phase development will result in 150 new apartments at Woodland Cove.
MassHousing also said it has closed on $35.3 million in affordable housing financing to Urban Edge for the refinancing and extensive renovation of the 78-unit Bancroft Dixwell Apartments in Roxbury and Jamaica Plain.
“The Bancroft Dixwell Apartments are an important source of affordable housing in Roxbury and Jamaica Plain but are in need of significant upgrades,” said MassHousing Executive Director Chrystal Kornegay. “MassHousing was pleased to partner with Urban Edge to ensure that these 78 rental homes are modernized, in order to provide their residents with affordable rents and economic opportunity for many years into the future.”