FRANKLIN — Franklin Savings Bank is providing $2.5MM in construction financing to assist with renovations to Harvey Heights on Ledgewood Lane in Ashland. Renovations are underway and will encompass new roofs, new heating systems, improved insulation, kitchen and bathroom updates, installation of sprinkler systems, upgrades to fire alarm systems, re-surfacing of parking lots, as well as other general updates to the two buildings. In addition, residents will receive reimbursement assistance for relocation costs during the renovation phase, which is expected to be completed by Sept. 2020.
“Franklin Savings Bank is proud to partner with Lakes Region Community Developers on this project to assist with carrying out renovations and improvements at Harvey Heights,” said John Bortolotto, vice president, commercial loan officer. “We were honored to sponsor a $350,000 grant from the Federal Home Loan Bank, which was awarded in January of this year to support the first phase of this project. We would also like to take this opportunity to thank the various partners and agencies who collaborated to make this project possible.”
Harvey Heights offers 40 affordable housing units to households earning up to 50% of area median income. Residents also have access to healthcare services and educational outreach onsite.
Visit www.fsbnh.bank to learn more about Franklin Savings Bank.