Rock Harbor Village
Rock Harbor Village is community housing development for elderly and disabled individuals located in Orleans (Cape Cod), Massachusetts. The 100 garden apartments are housed in 5 residential wood framed, shingled buildings. All of the buildings were originally constructed in 1978. The property is setback from the main road and is close to the town’s center, retail stores and major transportation routes. The site contains a well-used community building, barbecue areas and a pet park. It is 100% Section 8 and historically has had a 99% occupancy rate.
With its central location in the Town of Orleans, Rock Harbor Village was poised to have been a good candidate for a market rate conversion at the time of the maturity of its HAP contract in 2018. By securing this property as a member of a portfolio transaction from a seller liquidating their portfolio, POAH was able to purchase this property at a discount to its ultimate worth in a market-rate setting in a few years yet to come.
POAH financed the property with 4% low income housing tax credits from Alliant Capital Inc and tax-exempt bonds from MassHousing. POAH also received financial support from local Cape Cod agencies to preserve the affordability of the property. The Barnstable County HOME Consortium allocated $150,000 in federal HOME Investment Partnership funds and the Town of Orleans provided a $25,000 grant from the Town of Orleans Affordable Housing Trust Fund.
To assure that the property continues to be well maintained, POAH made renovations to the property. The exterior of the building received new cladding and many of the property’s units received bathroom and kitchen upgrades. Improvements to the accessible units were undertaken to meet new accessibility standards and include features for hearing impaired residents. As part of POAH’s corporate commitment to stewardship of the environment and reducing energy consumption, Rock Harbor received new energy efficient windows, mechanical systems and insulation and air sealing.
- Alliant Capital, LTD
- Barnstable County HOME Consortium
- Town of Orleans
- US Department of Housing and Urban Development (HUD)
- Massachusetts Department of Housing and Community Development
- Davis Square Architects
- Delphi Construction 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