MassHousing has closed on a $6.5 million loan to preserve affordability for low-income senior citizens at the 90-unit Rita Hall in Lawrence.

As a condition of the loan, Rita Hall Assoc., an affiliate of Peabody Properties, will extend the Section 8 Housing Assistance Payment (HAP) contract and the affordability on all 90 apartments for 20 years when the current HAP contract expires in July 2016.

The building six-story building 490 Hampshire St. includes 80 one-bedroom units and 10 two-bedroom units. As part of the refinancing, a number of improvements will be made to the property such as exteriorrepairs, sprinkler system plumbing upgrades and emergency generator and electrical repairs.

Rita Hall was in 1976 and originally financed by MassHousing. The property is being refinanced through MassHousing’s Section 8 Proactive Preservation Program, which seeks to extend affordability at developments where Section 8 HAP contracts are due to expire.