August 3, 2012
Business Digest for Aug. 3
By Staff reports
The MetroWest Daily News
Affordable housing loans approved for Stow and Framingham
The Community Economic Development Assistance Corp. (CEDAC) this week announced commitments of $1.8 million for 11 affordable housing developments designed to provide quality affordable housing for low-income residents across Massachusetts. Among those developments, CEDAC provided loans of $285,000 to the Stow Elderly Housing Corp., $300,000 to the Stow Community Housing Corp. and $50,000 to Cochituate Homes Inc. in Framingham. The loan for the Stow Elderly Housing Corp. will support the construction of 37 new units of supportive housing for frail seniors in Stow. The loan for the Stow Community Housing Corp. will be used for technical assistance in connection with the development of the Pilot Grove Apartments II project. The loan for Cochituate Homes will be used to preserve 160 units of existing affordable housing in Framingham. CEDAC is a private-public, community development finance institution. For more information, visit cedac.org.
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