The Community Economic Development Assistance Corporation has approved two loans totaling $700,000 that will help organizations preserve and renovate two long-time affordable housing developments in the South End and Roxbury.
CEDAC has awarded a $200,000 loan to Urban Edge Housing Corporation so it can make necessary repairs and updates to the Walnut Washington Apartments in Roxbury.
The CEDAC has also approved a $500,000 loan to the Community Builders Inc. The non-profit will make renovations preserving and updating the Historic South End Apartments.
“We are thrilled to be working with these community-based organizations on such important projects,” Roger Herzog, executive director of CEDAC, said in a statement. “Each of these developments has served low income families and individuals for decades. CEDAC is proud to be able to help preserve these homes so that they may continue to benefit those in need for years to come.”
The Walnut Washington Apartments were originally built in the 1920’s and consist of four buildings blocks from Egleston Square. The complex, which has a total of 65 units, was last renovated two decades ago, and requires exterior and interior updates. “Green” improvements will also be made to the buildings to reduce energy costs and water consumption, and improve air quality.
The Historic South End Apartments development consists of 146 units in 29 historic buildings within a few blocks of Massachusetts Avenue and Tremont Street.
A majority of these units are traditional South End row homes, consisting of four or five apartments. Community Builders plans to modify eight units to improve their accessibility.
“Organizations like Urban Edge and The Community Builders are focusing their efforts on improving existing developments for low income families, which is an important element to preserving affordable housing,” Herzog said. “By investing in these longstanding affordable housing developments, these communities are able to see that these developments are an essential part of the effort to strengthen their neighborhoods.”
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