August 27, 1998

The Commercial Lending Division of Cambridgeport Bank recently worked with CASCAP Inc. in winning approval of a direct subsidy award from the Federal Home Loan Bank.

The subsidy will aid in providing elderly persons in the Cambridge area with affordable housing through the development of Harvard Place, a 22 one-bedroom and efficiency apartment assisted living facility.

Groundbreaking for the $2.8 million project took place in July. Upon completion, the facility will have a common dining area, living room, laundry room, and on-site professional services office. The Elder Service Plan of Cambridge Hospital will provide specialized and comprehensive support services for the residence.

Harvard Place will be located at 273 Harvard St. in the former Harvard Manor Nursing Home. The rehabilitation of this neglected 19th century French mansard residence is ongoing.

This article originally appeared in the Cambridge Chronicle.