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Massachusetts Housing Investment Corporation
Highland Glen I – Westwood, Massachusetts

In 2018, MHIC provided a $16.3 million in LIHTC financing to Beacon Communities LLC to preserve and rehabilitate 180 affordable rental apartments for seniors and disabled residents in Westwood, Massachusetts, a suburban town about 25 miles southwest of Boston. In 2016, MHIC also provided $15 million as the lead lender and participant in a $47.25 million acquisition loan for this property.

Highland Glen’s apartments are in three 2-and 3-story buildings on 13-acres of a grassy 23-acre site that also includes Highland Glen II, a 102-unit rental complex (not financed by MHIC). Each building has a laundry room, community room, sitting areas and fitness equipment. As part of the rehabilitation, many new amenities, including a hair salon, computer room, expanded fitness area and expanded nurse’s office were added. The sponsor took great care to make the common interiors of the buildings bright and attractive, with interesting color schemes and artwork. Exterior landscaping and open space on this property is park-like with courtyards, walking paths, a gazebo, a greenhouse and many places to sit.

This property was originally built in 1980 under Chapter 40B. It was then sold to another entity from which Beacon Communities bought the property in late 2016. With very strong demand for affordable housing in the small suburban town of Westwood, Highland Glen I has a waiting list of at least two years for apartments.