City Builders LLC

This is the entity that has been formed to build the 25 unit 7 million dollar 100% low income housing project at the former site of City Builders. Who is City Builders LLC?

Well 51% of it is owned by the South Worcester Neighborhood Center. This is a great agency when dealing with human services, but has a less then stellar track history--Cambridge/Hacker Street. This project more or less went into foreclosure but there was a co-signor on the noter (Holy Cross) who has taken over.

The other 49% is Mechanics Guild. They are a newly formed corporation, who I do not believe own any other projects like this, although they have been subs on other similar projects. My point is that in the private sector there is pretty much no chance this entity would have gotten financing from a bank but in the world of low income housing none of this matters.