December 04, 2011
North
Somerville | BRIEFS
More funding for housing
By: Matt Byrne
A private-public community development agency has announced $700,000 in of new and increased loans that will fund the renovation of 31 affordable apartments and the construction of eight new units for homeless families in East Somerville. The Community Economic Development Assistance Corporation said $600,000 will go toward the construction of the new units, which will provide shelter for recently homeless families. The remaining $100,000 will help fund the refurbishment of the former Catholic parish site at Saint Polycarp Village, planned to house 31 one-, two-, and three-bedroom apartments. The funding will be administered through the Somerville Community Corporation. “The city of Somerville is meeting the challenge of creating affordable housing even while it experiences positive growth,’’ Roger Herzog, executive director of the Community Economic Development Assistance Corporation, said in a prepared statement. “With these loan commitments, CEDAC is providing opportunities for quality affordable housing in the community. We’re happy to be assisting Somerville Community Corporation in their efforts to strengthen their neighborhoods.” The $100,000 boost to the Saint Polycarp project comes after an initial $5.2 million in financing to help the Somerville Community Corporation buy the 3.5-acre site in 2006. – Matt Byrne
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URL: http://www.bostonglobe.com/metro/regionals/north/2011/12/04/more-funding-for-housing/uYyJN1OUiGwzAocLXNBHvK/story.htm