MassHousing lends $11.7m to Cape project

MassHousing, the state's affordable housing bank, announced loan commitments of up to $11.7 million for workforce housing on Cape Cod at the Residences at Canal Bluffs in Bourne.

The nonprofit Housing Assistance Corporation of Hyannis intends to build 28 affordable rental apartments and 89 condominiums - 22 of which will be affordable - on the site, MassHousing said.

MassHousing is the name that the Massachusetts Housing Finance Agency does business under.
(By Chris Reidy, Globe staff)