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MassDevelopment

Ships Cove Preservation Partners

MassDevelopment issued a $12.8 million tax-exempt bond and a $1,173,000 taxable bond on behalf of Ships Cove Preservation Partners, which used the funds to purchase and renovate Ships Cove Apartments, a 201-unit affordable rental housing facility in Fall River. The renovations will preserve all 201 units and will improve safety and energy efficiency in the building.