Posts by rock-admin

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LIHC, Rockport Mortgage Provide $65M for Manhattan Affordable Housing

NEW YORK, NY—LIHC Investment Group and Rockport Mortgage Corporation have closed a $65 million FHA Section 223(f) refinancing loan for Renwick Garden Apartments, a 224-unit subsidized Section 8 property in the Kips Bay neighborhood in Manhattan. The development comprises a single 15-story building located at 332 East 29th Street and is owned by LIHC, a real…

Rockport Mortgage and LIHC Investment Group Announce $65M in Financing for Manhattan Affordable Housing; Extending Affordability through 2049

The FHA Section 223(f) refinancing loan will maintain the affordability of Renwick Garden Apartments in Kips Bay NEW YORK, NY—Rockport Mortgage Corporation and LIHC Investment Group today announced the closing of a $65 million FHA Section 223(f) refinancing loan for Renwick Garden Apartments, a 224-unit subsidized Section 8 property supporting many elderly and disabled tenants…

Rockport Mortgage Corp. awards $50,000 in scholarships in partnership with GBREB and uAspire

On Thursday, June 4th, Rockport Mortgage’s managing partner and president Dan Lyons was set to be recognized by the Greater Boston Real Estate Board (GBREB) and uAspire, a leading national provider of financial aid advising, as the recipient of the 2020 GBREB Humanitarian Award. The event would also honor lieutenant governor of Massachusetts Karyn Polito…

Rockport Mortgage handles $36.4 million FHA Section 223(f) refinancing loan for Borden Place

Fall River, MA Rockport Mortgage Corp. completed the closing of a $36.4 million FHA Section 223(f) refinancing loan for Borden Place Apartments, 261 units of age-restricted housing, located downtown. Managed by Peabody Properties since 1981, the development consists of two buildings, Borden Place East (145 units) and Borden Place West (116 units), situated within a two-minute…

Affordability Extended for Seniors at Massachusetts Development

The affordability of homes for lower-income seniors has been extended for at least 20 years at the 43-unit Casselman House in Newton, Mass. MassHousing has provided $8.1 million in financing to nonprofit Newton Community Development Foundation (NCDF) to help preserve the longtime development. NCDF refinanced Casselman House through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint…

Rockport Mortgage Announces $36.4 Million in Financing for Borden Place Apartments

Refinancing extends senior housing’s affordability through 2055 GLOUCESTER, MA…Rockport Mortgage Corporation recently announced the closing of a $36.4 million FHA Section 223(f) refinancing loan for Borden Place Apartments, 261 units of age-restricted housing, located in downtown Fall River, MA. Managed by Peabody Properties since 1981, the development consists of two buildings, Borden Place East (145…

Rockport Mortgage Announces $19.9M in Financing for Bedford Towers in New Bedford

Refinancing extends affordability of the property through 2053 GLOUCESTER, MA…Rockport Mortgage Corporation recently announced the closing of a nearly $20 million FHA Section 223(f) refinancing loan for Bedford Towers, a 157-unit family and senior housing development located in New Bedford, Massachusetts. Originally constructed in 1977, the development consists of 1 high rise building and 7…

Rockport Mortgage Announces $8M in Financing for Casselman House in Newton

Refinancing extends affordability of the property through 2032 GLOUCESTER, MA…Rockport Mortgage Corporation recently announced the closing of an $8 million FHA Section 223(f) refinancing loan for Casselman House, 42 units of elderly/disabled housing, located in Newton, Massachusetts. The five-story elevator building was originally constructed in 1981 as part of HUD’s Section 202 program. Located in…