MassHousing closes $14.5 million refinancing

Boston, MA MassHousing has closed a $14.5 million deal with Rogerson Communities to extend the affordability of the 76-unit Farnsworth House senior housing for at least 24 years. 

The seven-story building will receive a number of updates, including a roof replacement, refurbishment of the parking lot, removal of an underground oil tank and replacement of the emergency generator, intercom, security camera system, fire alarm panel system and lobby furniture. 

The property owner, Charles H. Farnsworth Senior Housing Corp., has agreed to a 20-year HUD Section 8 Housing Assistance Payment contract for 75 of the 76 apartments, securing the extension of the affordability period.