Forest Hills Housing Cooperative , Inc.

Forest Hills Houlsing Project

Forest Hills Houlsing Project

An 87-unit limited equity cooperative, occupied by low and moderate income households, subsidized in part through federal rental subsidies.  Krapf Associates packaged the original financing for the purchase and rehabilitation in 1983 with the National Cooperative Bank (NCB), and refinanced the cooperative to include the purchase of adjacent property and other capital improvements in 1988 with  the Bank of Boston and NCB.

Alice Krapf continues to advise to the cooperative on an ongoing basis.  In 1994-5, she packaged and managed a $1.3 million refinancing for major capital improvements, including heating system replacement.   In 2000, she managed the process of structural reinforcement of one of the Cooperative’s four buildings and recently completed other interior and exterior capital improvement projects.  In 2006, Krapf  obtained $1.9 million in a refinancing for the Cooperative which resulted in $1 million of capital improvements completed in Spring, 2007.

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