South Middlesex Non-Profit Housing Corporation (SMNPHC)

FRAMINGHAM

South Middlesex Non-Profit Housing Corporation (SMnphc) is the largest owner and manager of housing for the formerly homeless in the Commonwealth. Its model of sober housing has set the standard for service-enriched housing.

South Middlesex Non-Profit Housing Corporation (SMNPHC) serves Middlesex County, and portions of Worcester County, with a variety of social service, anti-poverty, and housing programs. SMNPHC currently owns and manages over 1,400 units of rental housing.  Its housing portfolio serves some families, but the large majority of the units serve homeless or at-risk individuals, many of whom receive services from various SMNPHC social service programs.

TLI did its first low income housing tax credit construction loan with SMNPHC for Freedom Village, a 24 unit rental housing development in West Boylston.  SMNPHC had assumed control of that project from another non-profit which was unable to proceed.  SMNPHC successfully completed the construction and rent-up processes, and paid TLI back in full on an acceptable schedule.  TLI has also provided a revolving line of credit to SMNPHC, to provide flexible financing to enable the borrower to acquire properties for eventual redevelopment.  Most of the properties have been targeted for reuse as supported housing sites for single persons involved in substance abuse intervention programs.  Recently SMNPHC opened the Triage Center in Worcester, with twenty five shelter beds and fifteen single room occupancy units, on a site it purchased with the line of credit.  The line has also enabled SMNPHC to purchase a number of foreclosed, single family homes owned by the US Department of Agriculture Rural Development (USDA RD).  TLI has also just financed the acquisition by SMNPHC, from a private buyer, of 50 units of single room occupancy housing in Lowell, adjacent to the Lowell Transitional Living Center, which SMNPHC manages.

• Land loans to acquire and hold sites
• Construction loans