FUNDING  NEWS

Client: MI Residential Community, Inc.
Project Location: Lawrence, Massachusetts                         Award:  $1,937,890   

The funds will be used to modify 65 apartments for elderly assisted living. Bathrooms and kitchens will be modified to meet federal accessibility standards. Proposed  Supportive services include service coordination, personal care, medication management, emergency response, meals and transportation.

Gagnier, Hicks Associates is pleased to announce that our clients were awarded the following Capital Advances in this year's highly competitive SuperNOFA funding round.

SUPPORTIVE HOUSING FOR ELDERS

Client: Codman Square Neighborhood Development Corporation        Project Location: Dorchester, Mass.
Section 202 Capital Advance: $2,714,700            Five-year rental subsidy: $589,000

The proposed housing consists of thirty one-bedroom units with an elevator.

Client: Housing Assistance Corporation             Project Location: Brewster, Massachusetts
Section 202 Capital Advance:
$2,171,700             Five-year rental subsidy: $471,000
This property will entail the new construction of twenty-four one-bedroom units in Brewster, MA.   

Client: Island Elderly Housing                                Project Location: Oak Bluffs, Massachusetts
Section 202 Capital Advance: $778,400                    Five-year rental subsidy: $177,000

This project will construct nine unit project in Oak Bluffs, MA on Martha's Vineyard.

Client: Greater Springfield Senior Services Inc.     Project Location: Wilbraham, Massachusetts
Capital Advance: $4,091,600                                       Five-year rental subsidy: $863,500

This application was for the new construction of 45 one-bedroom units for elders.

SUPPORTIVE HOUSING FOR PERSONS WITH SPECIAL NEEDS

Client: Mental Health Association of Greater Springfield, Inc. 
Project Location: 
Chicopee, Massachusetts
Section 811 Capital Advance: $344,400                 Five-year rental subsidy: $59,000     

Client: Volunteers of America of Florida Inc.     Project Location: Tampa, Florida
Section 811 Capital Advance: $496,400                 Five-year rental subsidy: $80,000 

Client: Vinfen Corporation                                  Project Location: Dorchester, MA
Section 811 Capital Advance: $422,000                 Five-year rental subsidy: $157,000

Client: Volunteers of America of Florida Inc.        Project Location: Bradenton, Florida
Section 811 Capital Advance: $1,117,000                 Five-year rental subsidy: $193,500   

Home Page   |   Company Profile   |   Project Profiles    |   More About Us
Related Sites   | Event Calendar   |   Capital Advance  |   Mortgage Insurance