MassDevelopment issues $8.5 million tax-exempt bond for Roxbury Crossing
MassDevelopment has issued an $8.5 million tax-exempt bond for Roxbury Crossing Senior Building Limited Partnership, an affordable senior housing project sponsored by Mission Hill Neighborhood Housing Services Inc.
Mission Hill will use the proceeds to build a 40-unit rental housing facility for seniors over age 62. The building will have four stories with one-bedroom units, and a large community space, as well as handicap-accessible bathrooms.
MassDevelopment also assisted the Department of Housing and Community Development with the approval of federal low-income housing tax credits, which provided $5.4 million in equity for the project.
The parcel is across from MBTA Parcel 25, a two-acre vacant plot at the corner of Columbus Avenue and Tremont Street.