MassHousing has recently secured $29.7 million in financing for NeighborWorks Housing Solutions (NHS), a nonprofit organization, to construct 94 new affordable apartments near Brockton’s Campello Commuter Rail station.
The project will involve the redevelopment of a former industrial site at 1200 Montello St., which was previously occupied by a towing company and fuel storage facility. NHS plans to build an all-electric, five-story building that meets Passive House standards after demolishing the remaining vacant garage and office and removing contaminated soil.
According to MassHousing CEO Chrystal Kornegay, this development will contribute significantly to the revitalization efforts in Brockton’s Campello neighborhood by repurposing an underutilized parcel next to a major transportation hub.
To support this project, MassHousing is providing NHS with $5.1 million in permanent financing, $23 million in tax credit bridge financing, and another $1.5 million for workforce housing needs.
