The grand reopening of Blue Mountain Apartments in Boston’s Roxbury neighborhood was recently celebrated by The NHP Foundation (NHPF) with a ribbon-cutting ceremony. This redevelopment project involved the rehabilitation of 217 Section 8 multifamily units across 19 buildings originally built between 1910 and 1930.
According to lead developer Mecky Adnani, NHPF recognized the importance of preserving these Section 8 homes in a growing neighborhood. To achieve this goal, they acquired and embarked on a long-term preservation initiative to restore the property’s physical and historic integrity while providing renovated apartments for current residents.
The $112 million refinance that funded this redevelopment included tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, as well as federal and state historic tax credits. This successful project is another example of NHPF’s commitment to revitalizing communities through affordable housing initiatives.
