Boston Metro Region

Oaktree Richdale

Cambridge    2005

PCI, in participation with a conventional lender, has provided an acquisition and construction loan to the Oaktree Green development company to tear down an underutilized and deteriorating building and replace it with an attractive 20-unit condominium development. In addition to significantly enhancing the neighborhood, two of the units will be affordable to households with incomes at or below 80 percent of the area median income.

The development will include two one-bedroom units, 15 two-bedrooms and three three-bedrooms. There will also be 24 covered parking spaces in the basement level.

PCI Loan Amount: $860,000

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