Stow Elderly Housing Corporation Uses $25M in Financing

Stow Elderly Housing Corporation is using a $25.8 million tax-exempt bond issued by MassDevelopment and purchased by Eastern Bank for an affordable housing project in Stow. The work consists of the renovation of an existing 50-unit affordable rental housing complex for seniors, and the renovation of a single-family house combined with the construction of 37 units of supportive housing for the elderly. Dubbed the Elizabeth Brook Apartments, the new building will be adjacent to the existing apartment complex and will create a campus and continuum of care to benefit residents at various stages of life.