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Bridle Path Apartments

This apartment complex, built in 1983, provides 104 units (103 affordable) of housing for low-income elderly residents. The three, three-story buildings are located on a 3.8-acre site in this suburban town, approximately 15 miles south of Boston. In partnership with participating lenders Citizen's Bank and United Commercial Bank, Massachusetts Housing Investment Corporation (MHIC) provided $10.9 million in acquisition financing. MHIC also provided a $5.1 million Low-Income Housing Tax Credit equity investment, enabling Preservation of Affordable Housing (POAH) to preserve this property as affordable senior housing. Moderate renovations, such as window replacements, kitchen and bath upgrades and common area improvements are underway. POAH will assume the existing project-based Section 8 subsidy to ensure that all the units remain affordable to low-income residents.