ABC Properties

Quick facts

City: Chelsea

Development type: Renovation/Preservation

Number of units: 27 apartments

Affordability: 27 units < 50% AMI

Overview

The ABC Portfolio includes four buildings across two locations. These properties were identified as strong candidates for acquisition because of their below-market rents and well-maintained conditions. Without TND’s intervention, an outside investor could have seen the portfolio as an opportunity to increase rents, putting long-term residents at risk of displacement. By acquiring these buildings, TND ensures that affordable housing is preserved and residents can continue to live securely in their communities.

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Development team

Acquisition financing: Massachusetts Housing Investment Corporation (MHIC), The Property and Casualty Initiative (PCI); and OppCo’s Housing Accelerator Fund