Cutler Heights to receive Grand Opening on June 2

The following is a press release issued earlier this week by The Cutler Heights Housing Limited Partnership:

Cutler Heights will be officially unveiled to the public in a two-part ceremony on June 2.

The Cutler Heights Housing Limited Partnership (CHLP) will hold the official grand opening of the affordable housing development at 10:00 a.m. in the Town Hall auditorium. That will be followed by a ribbon cutting ceremony at Cutler Heights.

Cutler Heights Housing is the development of a 30-unit affordable rental housing development in downtown Holliston. This 5.4 acre site is located at 79 Hollis Street, behind .

The project is the result of a seven-year effort by the Holliston Housing Authority (HHA) and CHLP to develop affordable rental housing for Holliston’s low and moderate-income community. The 3½-story, 35,000 square foot building provides one single-bedroom unit, 23 two-bedroom apartments and six three bedrooms to individuals and families with incomes at or below 60 percent of the Boston-area median. There are 52 parking spaces, 26 of which are located under the building.

CHLP consists of three partners: JNJUHL and Associates LLC, Neighborhood of Affordable Housing, Inc. and the Holliston Housing Development Corporation. Combined, these private and non-profit partners have over 40 years of affordable housing experience.

The Cutler Heights Housing development is being managed by Corcoran Management Company, Inc of Braintree.

Cutler Heights Housing has received considerable financial support from the town and Holliston Housing Authority. The project is being funded by local, state or federal lenders, including the Holliston Community Preservation Committee, the Affordable Housing Trust Fund, the Community-Based Housing Program and NeighborWorks America.

The Massachusetts Department of Housing and Community Development (DHCD) has also given money to help fund the development through the Tax Credit Assistance Program (TCAP) under the Federal Government’s American Recovery and Reinvestment Act.

In addition, provided $1.165 million in construction financing for the project and the Massachusetts Housing Partnership Fund will be providing a $1.165 million 20-year permanent mortgage for the development.