Bennett Real Estate Brokerage completes $190,000 sale to Housing Benefits

Redevelopment will occur at the 641 Hayward St. address. The Urban Multifamily zoned lot will become home to new affordable housing units. The property was once used for automotive repairs, by P V Automotive, servicing the local area residents. The 13,000 s/f lot will provide six 2-bedroom rental units in accordance to the (Permanent Supportive Housing Program) supportive housing to families who are homeless or at risk of becoming homeless. The scope is to redevelop foreclosed or abandoned residential properties to serve individuals and families making less than 50% of area median income. The housing will serve to stabilize the neighborhood by creating an anchor in the community which will reduce displacement, provide affordable housing stock, and encourage neighborhood pride. Robert Bennett of Bennett, R.E. Brokerage represented Mystic Brook, LLC, seller and Chris Davies of Great Bridge Properties represented Housing Benefits, Inc., buyer in the transaction. The sale price was $190,000.