MassHousing, the state’s affordable housing bank, said that it has closed on $1.9 million in loans for 24 newly constructed affordable units at the Maple Ridge Apartments in Tyngsborough, bringing to 96 the number of affordable apartments at the location.
“Building new, quality affordable housing is important to the working families of Tyngsborough and the Commonwealth as a whole because affordable housing is a major economic driver to our economy,” MassHousing executive director Thomas R. Gleason said in a statement. “The fact that all 96 apartments at Maple Ridge were rented shortly after they were constructed highlights the great need for new affordable housing and the preservation of our existing affordable housing around the state.”
Dakota Partners Inc. of Waltham developed Maple Ridge on the site of a vacant lot, MassHousing said in a press release. The 96 two-bedroom apartments are contained in four garden style, three-story buildings. The architect was LaFreniere Architects of Cambridge, and the management agent is WinnResidential of Boston.
During 2012, MassHousing provided more than $1 billion in home loans in 2012 to local borrowers.