**POAH Secures $23.5M Financing for Affordable Housing Project in East Cambridge**
Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old underutilized church at 49 Sixth Street in East Cambridge, Massachusetts, into affordable housing. The adaptive reuse project will result in 46 family-sized affordable apartments.
“I have been collaborating with the POAH team for several years on affordable housing projects,” said Kelly Nguyen, Vice President and Commercial Banker at Rockland Trust. “These revitalization efforts offer innovative solutions for increasing housing availability in desirable neighborhoods while preserving local architectural history.”
The development will include the repurposing of the former rectory, school, and convent buildings affiliated with the church. POAH plans to maintain the historical integrity of the structures while upgrading them into high-quality, energy-efficient homes that will remain permanently affordable. Key elements of the buildings’ facades and interiors will be carefully restored and preserved as part of the project.
This initiative addresses the critical need for affordable housing in the Cambridge area while celebrating and conserving the city’s architectural heritage.
