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Newly constructed, 66-unit affordable housing development for senior citizens is completed and fully occupied

BOSTON – June 19, 2013 – (RealEstateRama) — MassHousing has closed on $2.1 million in loans for the 66-unit Barstow Village, a newly constructed affordable housing community for senior citizens in Hanover.

Barstow Village was developed by EA Fish Development and the Planning Office for Urban Affairs, a non-profit housing developer affiliated with the Roman Catholic Archdiocese of Boston.

MassHousing provided $2.1 million in permanent financing for the project, which is completed and fully occupied. Additional financing included $716,588 from the Affordable Housing Trust Fund, which is managed by MassHousing on behalf of the state Department of Housing and Community Development.

“Barstow Village is a brand new housing community for senior citizens and all the apartments are affordable,” said MassHousing Executive Director Thomas R. Gleason. “This brand new development will be an important affordable housing asset for the town of Hanover and the senior citizens who live there for many years.”

All 66 apartments are affordable and the unit mix includes 64 one-bedroom apartments and 2 two-bedroom apartments in a three-story building. Barstow Village also has supportive services to foster independent living.

The contractor was Dellbrook Construction; the architect was the Architectural Team and the management agent is Peabody Properties.

About MassHousing
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $17 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog and Like us on Facebook.

Media Contacts
Eric Gedstad: 617.854.1079 | egedstad (at) masshousing (dot) com
Tom Farmer: 617.854.1843 | tfarmer (at) masshousing (dot) com