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Massachusetts Housing Investment Corporation
Auburn Court I – Cambridge, MA

This rental apartment complex, for which MHIC provided $9.6 million in LIHTC financing, is located on an enviable site in the Cambridgeport section of Cambridge, Massachusetts. It is adjacent to Central Square, a diverse, walkable and bike-friendly neighborhood and commercial center with many public transportation options and amenities.

Auburn Court I was renovated and expanded by MHIC’s long-term partner Homeowners Rehab, Inc. (HRI). It includes 86 apartments in eight buildings – 77 built in 1995. The existing units were moderately rehabilitated, an office was converted into a residential unit, and eight new apartments were constructed. Thirty-nine of the original 77 apartments and all nine of the new housing units are affordable to low-income residents. Seven of the remaining 38 apartments are for moderate-income residents and 31 are market rate units. The new construction meets LEED Gold and EnergyStar standards for sustainability, as well as HRI and the City of Cambridge’s goals for efficiency and green development.

In 1995 HRI developed Auburn Court I through a lease agreement with MIT (the landowner), and Forest City, the commercial developer of nearby University Park, a mixed-use development that also occupies MIT-owned land through a long-term lease.

The development of Auburn Court I was made possible through a partnership of HRI, the City of Cambridge, MIT, MHIC and other lenders in this city where rents are among the highest in the country.