MassHousing has closed on a total of $14.5 million in affordable housing financing to Beacon Communities LLC for the rehabilitation and preservation of affordability of 570 apartments at two related Brockton housing communities, the 300-unit Chatham West I and 270-unit Chatham West II.

The transaction resolves the expired Section 13A mortgage on 202 units at Chatham West II, and supports the continued tenancies of existing residents who were formerly covered by the 13A mortgage. The MassHousing financing also enables Beacon Communities to undertake renovations and preserve the overall affordability of both housing communities.

“This transaction provides a great outcome for the residents of Chatham West I and II, who will have their affordability preserved for the long term, while also seeing immediate improvements to the property,” MassHousing Executive Director Chrystal Kornegay said in a statement. “Beacon Communities has worked diligently to ensure that vulnerable 13A tenants would be able to continue their tenancies at Chatham West. We thank Beacon for their partnership, and their commitment to preserving the affordability for the residents of Chatham West.”