Revamp Coming to Cambridge Street Apartments

Boston, MA - The 64-unit Anderson Park Apartments are set for extensive renovations, following a deal meant to keep prices affordable for the next 20 years.

According to a press release from The Massachusetts Housing Finance Agency, Abrams Development Company has extended the federal Section 8 Housing Assistance Payment Contract on all 64 units for 20 years in order to receive $24.4 million in MassHousing refinancing.

Additionally, Ambrams Development will make major renovations to the 250 Cambridge St. property, including a new roof, new windows, masonry repairs, HVAC and electrical upgrades, water conservation improvements and ADA compliance upgrades.

The Anderson Park Apartments were constructed in 1978 with MassHousing financing and consist of 32 one-bedroom apartments, 30 two-bedroom apartments and 2 three-bedroom apartments, according to the release.

MassHousing provided a $22 million construction/permanent loan and a $2.4 million bridge loan. Additional financing was provided through the use of federal Low-Income Housing Tax Credits.

The contractor will be D.F. Pray General Contractors and the architect is Icon Architecture.