News: Financial Digest

MassHousing awards $68,213 in financing to preserve affordable sober housing in Boston and Falmouth

MassHousing has awarded $68,213 in financing to help preserve affordable sober housing in Falmouth and for support services for existing sober housing in Boston. The MassHousing grants will come from the Center for Community Recovery Innovations, Inc. (CCRI), a nonprofit subsidiary corporation of MassHousing that creates and preserves affordable sober housing in Mass. for recovering substance abusers. CCRI to date has awarded nearly $6 million in grants for more than 1,400 units of substance-free housing in more than 30 communities for men, women, families, veterans, the homeless and ex-offenders. "Having an affordable place to live in a sober setting and receiving effective support services is critical for people trying to overcome substance abuse," said MassHousing executive director Thomas Gleason. "These CCRI grants are an important funding resource in helping people overcome their addictions." Receiving grants in the latest round of CCRI funding are: * Gerald Flynn House, Falmouth Housing Trust, Falmouth, $25,213 to help preserve seven units of affordable sober housing for men and women in Falmouth. The funding will support replacement windows and other energy improvements and matching funds will support improvements to floors, bathrooms, the foundation and chimney, and electrical work. * Casa Esperanza, Nueva Esperanza, Boston, $25,000 in one-time start up funding for the Supportive Housing Services program at Nueva Esperanza. Previous CCRI funding helped in the development and construction of 14 units of sober housing, which was completed in November 2011. * Self Esteem Boston, Skills for Success, Boston, $18,000 in one-time funding for Skills for Success, an educational service program for 40 women in recovery and their families. Other public and private funding will support the program beyond the first year.
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Preservation of Affordable Housing secures $23.5 million in financing from Rockland Trust and Citizens Bank

Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.
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