A Enterprise story
onprofit Preservation of Affordable Housing (POAH) has secured more than $12.5 million in financing from Rockland Trust for the construction of Cape View Way, LLC, a 100 percent affordable housing development in Bourne.
Cape View Way will be designed to passive house energy efficiency standards with 42 residential rental units spanning nearly three acres of land. The Town of Bourne has been working with both the Housing Assistance Corporation and POAH on development of the parcel, which is estimated to cost $21 million.
“Rockland Trust is honored to partner with POAH on Cape View Way to help fill the gap for affordable rental opportunities in a vibrant community,” said Kelly Nguyen, vice president of commercial banking at Rockland Trust, in a statement. “The need for affordable housing opportunities has greatly increased with the growing housing crisis. Cape View Way is addressing that need in a highly desirable location.”
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