SUNDERLAND, Mass. (WWLP) – MassHousing has provided over $40 million in funding for 150 new housing units for low-income families and students in Sunderland.
North 116 Flats will offer 38 apartments to families, the remaining 112 units will be for students.
The 38 family apartments that makeup North 116 Flats are affordable for households making at or below 80 percent of the Area Median Income (AMI). North 116 Flats is located just three miles from UMass Amherst, and has easy access to a bus line that goes into downtown Amherst.). In addition to the remaining 112 furnished apartments, 329 beds are available for students to rent at market rates. For a household of four, the AMI in Sunderland is $82,900.
Among the amenities in the residential community will be a fitness center, study rooms, grilling areas outside, and fire pits. There are also five, three-story garden-style buildings that will house 30 one-bedroom, 90 two-bedroom, and 30 three-bedroom apartments.
“MassHousing appreciates the opportunity to be part of the entire process to complete this hybrid, purpose-built housing, starting with its permitting under Chapter 40B and extending through its completion,” said MassHousing Executive Director Chrystal Kornegay. “North 116 Flats is now providing quality, affordable rental housing for families in Sunderland, as well as for students studying in greater Amherst.”
“We are excited to offer local citizens and students in the Amherst area with a residential property that suits the needs and wants of the community with North 116 Flats,” said Wes Rogers, President and CEO of Landmark Properties. “Landmark is fortunate to partner with MassHousing experts to guide affordable housing options for Landmark-owned communities in Sunderland.”
MassHousing provided $41.2 million in taxable permanent financing to Landmark Properties.