Bridle Path ApartmentsThis
apartment complex, built in 1983, provides 104 units (103 affordable)
of housing for low-income elderly residents. The three, three-story
buildings are located on a 3.8-acre site in this suburban town,
approximately 15 miles south of Boston. In partnership with
participating lenders Citizen's Bank and United Commercial Bank,
Massachusetts Housing Investment Corporation (MHIC) provided $10.9
million in acquisition financing. MHIC also provided a $5.1 million
Low-Income Housing Tax Credit
equity investment, enabling Preservation of Affordable Housing (POAH)
to preserve this property as affordable senior housing. Moderate
renovations, such as window replacements, kitchen and bath upgrades and
common area improvements are underway. POAH will assume the existing
project-based Section 8 subsidy to ensure that all the units remain affordable to low-income residents.
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