In 2003, the Massachusetts Community Economic Development Assistance Corporation (CEDAC) requested that RDI acquire and renovate two properties in Orange that had been renovated in 1993 by a local community development corporation but that had fallen out of compliance with its funders.
The two 3-unit properties were poorly maintained, the units were being rented to families without regard to income, real estate taxes were in arrears for many years, and a ground floor unit in the Prospect Street property had serious water damage. Due to complex issues that made it difficult for the property owner to transfer title, the lenders pursued foreclosure as the most efficient path to conveying the property to RDI. While the process was pending, RDI assumed management of the property at the request of CEDAC. RDI advanced its own funds to clear the outstanding property and water/sewer taxes. In April 2007, RDI purchased the property at the foreclosure auction.
Upon closing with CEDAC for a new loan, the properties were renovated, and Section 8 project-based vouchers were obtained from HRA to make the units on Prospect Street affordable. HRA manages the two properties: the three subsidized apartments at Prospect Street and three market rate units at Grove Street.
To apply for a market-rent unit in the Grove Street building of P & G, please visit the Franklin County Regional Housing & Redevelopment Authority website.