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Machado House at Peter's Grove

11 Lake Street
Hudson, MA
Deal Type: 
Acquisition/Rehab
Year Built: 
1983
Acquisition Date: 
2012
Last Renovation: 
2012
Number of Units: 
96
Tenancy: 
Senior

Machado House at Peter’s Grove is a 96-unit senior housing development in Hudson, MA, set back from the main road in a multi-family residential neighborhood in close proximity to transportation routes, retail shops and the town’s center. The 5-story wood framed building was constructed in 1983 and has been well maintained and operates at 99% occupancy.

With its central location in Hudson, Machado House at Peter’s Grove was poised to have been a good candidate for a market rate conversion at the time of the maturity of its HAP contract in 2014. POAH acquired the property by executing a tax exempt bond transaction with MassHousing as the permanent lender.

POAH also used 4% Low Income Housing Tax Credits that were syndicated by Massachusetts Housing Investments Corporation and State Tax Credits made available by the Massachusetts Department of Housing and Community Development.Avidia Bank, a local Hudson bank, invested in the LIHTC through MHIC.

POAH renovated with energy efficiency installations including replacement of its original boilers and significant insulation and air sealing. POAH also modernized the property’s two elevators and make accessibility improvements across the site.

Machado House offers residents a spacious and beautifully appointed community room and kitchen that face lush landscaping and a wooded area.

Project Partners

  • Avidia Bank
  • Massachusetts Department of Housing and Community Development
  • Massachusetts Housing Investment Corporation (MHIC)
  • US Department of Housing and Urban Development (HUD)
  • MassHousing
  • Callahan, Inc
  • Davis Square Architects
  • Guzman Prufer Architects Inc

Awards and Accolades

  • Readers Choice Best Development in Nation (Boston/Cape Cod/Hudson portfolio), Affordable Housing Finance Magazine
  • Honorable Mention, Charles L. Edson Tax Credit Excellence Awards