MassHousing Announces Loan Closing of $7.1 Million to Preserve Affordable Housing for Senior Citizens in Fall River

BOSTON – January 27, 2014 – (RealEstateRama) — MassHousing announced a loan closing today of $7.1 million to preserve affordability for senior citizens at the 125-unit Tecumseh Mill in Fall River. As a condition of the MassHousing financing, Tecumseh Holdings LLC, the property owner, will extended the HUD Section 8 Housing Assistance Payment (HAP) contract and the affordability on 124 apartments for 20 years when the current HAP contract expires March 1. One of the building’s apartments is occupied by a resident superintendent.