137
NEW BEDFORD, MASS. — MassDevelopment has provided $17 million in tax-exempt bond financing for Wamsutta Apartments, a 144-unit affordable housing complex in New Bedford, located at the base of Cape Cod. The historic building was originally constructed in the 1870s and consists of 29 buildings that primarily house one-bedroom units. Residences are reserved for households earning 60 percent or less of the area median income. The borrower, an affiliate of HallKeen Management, will use proceeds to fund capital improvements and preserve the property’s affordability status.