MassHousing has recently granted $29.7 million in affordable housing financing to NeighborWorks Housing Solutions (NHS), a nonprofit organization. The funding will be used for the construction of 94 new affordable apartment homes near Brockton’s Campello Commuter Rail station.
The project, located at 1200 Montello St., involves the remediation and redevelopment of a former industrial site into a five-story, all-electric building that meets Passive House standards. Previously, the site was occupied by a towing company and fuel storage facility which have since relocated. NHS demolished any remaining vacant structures and removed contaminated soil before beginning construction on the new development known as Brockton South transit-oriented development.
According to MassHousing CEO Chrystal Kornegay, “By repurposing this parcel right next to a Commuter Rail station with 94 brand new affordable, energy-efficient apartments homes, NHS is helping with the city’s efforts to revitalize the Campello neighborhood.”
In order to support this project further, MassHousing has provided NHS with various forms of financing including: $5.1 million in permanent loan funds; $23 million in tax credit bridge financing; and an additional $1.5 million for workforce housing initiatives.
This investment from MassHousing will not only provide much-needed affordable housing options but also contribute towards revitalizing an important neighborhood within Brockton.
