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October 27, 2021

Cushing Residences Upgrades Funded by Refinancing

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In 2012, CDT and Evergreen Housing purchased Cushing Residences, a 150-unit Section 8 property located in Hanover Massachusetts that serves seniors and disabled individuals.

Evergreen had been approached by the Archdiocese of Boston on behalf of the prior property owner; a non-profit affiliated with Cardinal Cushing Centers, that runs programs for special needs youth and young adults, because they were interested in selling the property in order to provide needed capital that would allow them to continue fulfilling their important mission, while still ensuring that the new owner would act as responsible long-term stewards of the property.

In June 2020, the property’s first mortgage was refinanced which provided resources to fund the replacement of kitchens, bathrooms, and gym equipment, and installation of a medical alert system and emergency generators. This work has been successfully completed.

Cushing Residences Exterior
Before Renovation: Kitchen and Bath
The Renovation in Process
Kitchen and Bath Post-Renovation