Eastgate Apartments

Located in the Pine Point neighborhood of Springfield, Mass., this is a 148-unit residential complex, consisting of 12, two-story buildings, which houses families and disabled individuals. It was built in 1950 and renovated in 1982 and has since been in use continuously as a Section 8 assisted apartment complex. Massachusetts Housing Investment Corporation (MHIC) provided a $5.2 million LIHTC equity investment and, in partnership with participating lenders Citizen's Bank and United Commercial Bank, MHIC also provided an $8.5 million loan for acquisition. With this financing, Preservation of Affordable Housing (POAH) has acquired the property and will now be able to preserve and improve it. Modest renovations, such as upgrading utility systems, kitchen/bath upgrades, window replacements, and fire alarm upgrades are required.