MassHousing has closed a $14.5 million deal with Rogerson Communities to extend the affordability of 76-unit Farnsworth House senior housing in Boston for at least 24 years. The seven-story building will receive updates such as roof replacement, refurbishment of the parking lot, removal of an underground oil tank and replacement of emergency generator, intercom system, security camera system and lobby furniture.
Charles H. Farnsworth Senior Housing Corporation agreed to a 20-year HUD Section 8 Housing Assistance Payment contract for 75 out of 76 apartments which secures extension on affordability period. This $14.5 million refinance provides much needed improvements while ensuring long term affordable housing options in Boston area remain available for seniors who need it most .
