Lument Closes $27 Million FHA Refinance for Affordable Housing Community in Boston 

Lument announced the closing of a $27 million U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) Section 223(f) loan to refinance East Canton Street Apartments, an 80-unit affordable multifamily community with four five-story buildings constructed in the late 1800s in Boston.  

Originally built in 1874 and 1892, East Canton Apartments is a mid-rise apartment complex in what is currently known as the InkBlock neighborhood of Boston that was converted to HUD subsidized multifamily housing in 1981. The property was substantially rehabilitated in 2007 as part of a low-income housing tax credit (LIHTC) and historic tax credit transaction completed by HallKeen Management. The property benefits from a Section 8 housing assistance payment (HAP) contract on all 80 units.