b'Transforming townsIn FY2020, a severe housing shortage on Cape Cod was only made worse by the pandemicwith more people looking for modest year-round housing. For Elizabeth, thats why the Lofts at 57 was such an important project. If people dont have an affordable place to live, she said, they arent going to start a business or accept a job in the community.MassDevelopment provided a $1.2 million loan to the Housing Assistance Corporation, which the nonprofitused to create eight rental units at 57 Ridgewood Avenue in Hyannis. A mix of affordable and market-rate units,the development has a prime location in the downtown area that is also served by MassDevelopments Transformative Development Initiative (TDI). Once a vacant parcel of land, the Lofts at 57 is a model for housing, a neighborhood improvementproject, and a catalyst for further investment all rolled into one. And in places like Cape Cod, that hasnever been more critical. See other ways were helping Cape CodMassDevelopment funded an artists-in-residence programin downtown Hyannis through the Barnstable TDI Partnership.The TDI program is an initiative to help create a year-round hub for businesses and residents with plans to increase the vitality of the Main Street corridor with coordinated placemaking efforts. The JFK Hyannis Museum Foundation received a $50,000 Cultural Facilities Fund capital grant to create a community and media space for civic, educational, and cultural programming.MassDevelopment provided a $412,000 loan to CapeBuilt forthe construction of the Sea Captains Row apartment complexin Hyannis. The project will transform an underutilized propertyand provide more vital housing on Cape Cod. Housing Assistance Corporations housing development in Hyannis 11'