Category: CEDAC

Howland House gets second life after escaping demolition

NEW BEDFORD — Guests stepped into the Howland House Thursday evening and exchanged memories of what the
building was and now is.
At the ribbon-cutting to debut the renovations, Patrick Sullivan, director of New Bedford Department of Planning
Housing and Community Development, remembered walking into a building with a “gigantic hole in the second floor.”
The only thing holding up the house was its sound construction, which dates back to 1834.
Susan Terry of the Massachusetts Department of Housing and Community Development said when the architect walked
in, his foot went through the floor.
The scene Thursday at 38 South Sixth St. featured fresh paint with new stainless steel appliances and windows.
“WHALE is back in business,” Mayor Jon Mitchell said. “You have really stepped up and understood the core mission of the
organization and the potential here: For WHALE to bring back the life of buildings like this.”
A 2005 fire charred the 19th century 10,000-square-foot structure. It escaped demolition, and in 2010 the Waterfront
Historic Area League bought the brick Federal-Greek Revival home for $237,000.
The Resouce Inc. (TRI), WHALE and architect Christopher “Kit” Wise worked to transform the building into seven
apartments while maintaining its historic characteristics.
The house was originally built in 1834 for John and Sarah Howland Jr. as one of three similar homes in the neighborhood.
The Howlands were among New Bedford’s wealthiest families. John Howland was one of the original 15 trustees of the
New Bedford Institution of Savings.
“There’s just a lot of nit and grit that goes on beyond the high financing and construction management,” Executive Director
of WHALE Teri Bernert said.
When Bernert was interviewed for her current position four years ago, the Howland House topped WHALE’s list of
desired renovation projects.
She drove by the building and was asked if it could be done.
“I don’t know, something about the house, I said, ‘Yeah we can get this done,’” she said.
Thursday her promise became a reality.

http://www.southcoasttoday.com/news/20171221/howland-house-gets-second-life-after-escaping-demolition

SourceSouth Coast Today

MassHousing Provides $10.8M To Renovate 61 Units In Springfield

MassHousing announced yesterday it provided $10.8 million in financing to the nonprofit developer Home City Development Inc., to advance the second phase of the substantial rehabilitation of the 136-unit E. Henry Twiggs Estates in Springfield. The project will complete major renovations of 61 scattered-site apartments for low-income families in the Mason Square neighborhood of Springfield.

MassHousing is supporting the redevelopment of E. Henry Twiggs Estates by issuing $10.8 million in short-term, tax-exempt debt, in a private placement with TD Bank. TD Bank will serve as both construction and permanent financing lender on the project. Permanent financing will result from a taxable execution with the Federal Home Loan Bank of Boston. This transaction is MassHousing’s first tax-exempt conduit loan outside Greater Boston.

“MassHousing’s partnership with TD Bank, and Home City Development, will preserve a key affordable housing resource in Springfield,” MassHousing Acting Executive Director Tom Lyons said in a statement. “Safe, modern affordable housing supports healthy families. Many of properties involved in this transaction are more than 100 years old and in need of major upgrades. By delivering major renovations to the interiors and exteriors of the E. Henry Twiggs Estates properties, this project will dramatically improve the quality of life enjoyed by the residents of the Twiggs Estates, and support the revitalization of the surrounding neighborhood.”

The E. Henry Twiggs Estates are comprised of 136 affordable units located in 59 scattered-site buildings, including 41 more than 100 years old, and 18 structures built in the 1980s. Phase One of the rehabilitation effort, which MassHousing was not involved with, completely renovated 75 affordable housing units. The second phase of the project will completely upgrade the remaining 61 units, delivering upgraded heating systems and insulation, new kitchens and bathrooms in all units, new roofing and siding and energy efficiency upgrades, including the replacement of boilers and updated electrical wiring.

Of the 61 units in Phase Two, 16 will be reserved for households at or below 30 percent of the Area Median Income ($24,600 a year for a family of four), and 45 units will be for households earning at or below 60 percent AMI ($39,960 a year for a family of four). Twenty-eight of the units are supported through the Massachusetts Rental Voucher Program and four units are subsidized through the Massachusetts Supportive Housing Initiative.

In addition to the MassHousing and TD Bank financing, the transaction involved $13.8 million in equity from an allocation of Low-Income Housing Tax Credits by the Massachusetts Department of Housing and Community Development (DHCD), $1.9 million in DHCD financing, $1 million from the Affordable Housing Trust Fund, which MassHousing manages on behalf of DHCD, a $2.5 million seller note, $450,000 from the Massachusetts Facilities Consolidation Fund, which supports housing for clients of the Department of Mental Health andDepartment of Developmental Services, and $50,000 from the city of Springfield.

https://www.bankerandtradesman.com/masshousing-provides-10-8-million-to-renovate-61-units-in-springfield/?utm_campaign=Daily&utm_source=hs_email&utm_medium=email&utm_content=59536268&_hsenc=p2ANqtz–VAH-TFay6pBfGcFZEscdOFFvrW6r5LoDB5q2mcwIXW5RA0YnKsRxYsD9h4U7L3NFO-RYVaia9fMSc163CbFWrlVqr7A&_hsmi=59536268

SourceBanker & Tradesman

CDC PROJECTS CATALYZE REVITALIZATION OF NORTHAMPTON CORRIDOR

The City of Northampton has spent the last four years developing a plan to revitalize the Pleasant Street Corridor, a stretch that has been identified as an important gateway to downtown Northampton.  Two CDC affordable housing developments have played a key role in the rejuvenation of the corridor.

Way Finders’  Live 155 Apartments, currently under construction, will provide 70 mixed-income studio and one-bedroom apartments when it is completed in the spring of 2018.  Just across Pleasant Street is Valley CDC’s  Lumber Yard Apartments, which will break ground next month on 55 affordable units.  Both projects will include commercial space.

These projects complement the City’s efforts to transform Pleasant Street from a state highway into a city street that serves the needs of residents and local business.  Infrastructure improvements include new raised crosswalks, curb extensions, improved bicycle and pedestrian paths, the addition of on-street parking, landscaping, and a new rotary that provides some separation between the highway and the main city street.

Both projects were assisted by The Community Economic Development Assistance Corporation (CEDAC), a public-private community development finance institution that provides financial resources and technical expertise for community-based and other non-profit organizations engaged in effective community development in Massachusetts.

In its weekly blog, Insites, CEDAC highlights the catalytic role that these two projects are having in Northampton.

https://macdc.org/news/cdc-projects-catalyze-revitalization-northampton-corridor?utm_source=2017+December+Notebook&utm_campaign=June+22+Notebook&utm_medium=email

SourceMACDC News

Sixteen Lexington affordable housing units locked in for good

Lexington Housing Authority (LHA) is “now the proud owner of five condos at
Pine Grove Village,” according to LHA Executive Director Caileen Foley. Foley
made the announcement at the Dec. 13 Lexington Housing Authority meeting.
The announcement was not sudden, but rather a summing-up of months of
work that went into preventing 16 housing units at Pine Grove Village from
losing their affordable status and reverting to fair market value. LHA’s five newly
acquired units—they officially turned over to the agency on Dec. 1–are rental
properties, while 11 other units made the transition from a co-op to
condominiums. The five rental units, now belong to the Lexington Housing
Authority. They are, and will continue to be, leased to Section 8 voucher holders
and Massachusetts Rental Voucher Program (MVRP) voucher holders.
The latter units are owned outright by those living there. LHA is one of the
trustees on the newly created condo board, according to Foley.
Elizabeth Rust of the Regional Housing Services Office spearheaded the effort,
operating as an agent for the town of Lexington. Pine Grove Village “was
probably one of the first 40Bs in the commonwealth,” Rust said, referring to the
state’s Chapter 40B affordable housing law that lets developers skirt local zoning
regulations in return for the inclusion of a substantial percentage of affordable
units. It was created under the auspices of Massachusetts’ 13A Preservation
Initiative, begun in the 1970s. The program was set up with a 30-year restriction
that expires in 2018, Rust said, meaning that a chunk of Massachusetts’
affordable housing, Pine Grove Village included, stands to revert to market value
next year.
Project used CPA funds
Sixteen Lexington aordable
housing units
locked in for good
The town of Lexington, LHA, MassHousing and co-op (now condo) residents
worked together to make sure that wouldn’t happen. They used just over $1
million in Community Preservation Act (CPA) funds approved with the passage
of a 2017 annual Town Meeting article to fund the necessary shifts. Worried by
the prospect of losing their affordable housing, co-op residents initially
approached the town in May 2016, according to Rust. Those residents and the
town initially disagreed on how to proceed, ultimately concluding that it would
be better to forge ahead together to find a mutually agreeable solution, rather
than head to litigation, she explained.
In the end, they did, after much “work toward a common, beneficial solution for
all parties,” Rust said. “In the end, everyone had the same goal.”
The conversion of the co-op into 11 condominiums was a key component. The
key change for the five rental units is that they’re now owned by LHA.
“We’re excited for the opportunity,” Foley said in an interview after the meeting.
“It was fun to work with the town, and get it done so quickly.”
Units now affordable forever
The town contributed money to the conversion, and in return received a
“perpetual deed restriction restricting the resale of the units,” Rust said.
This deed restriction is different from that instituted under 13A. Now, “there’s
no risk of losing them, or having to do this again,” Rust said of the housing.
“They’re properly secured from the affordable housing perspective.”
It took many steps to get to this point, in what was an unusually involved
process, due to several factors. For one thing, the co-op was “a nontraditional,
nonstandard set-up,” Rust said. Moreover, the work had to be done not only for
rental properties, but for owned properties as well, and “there was a capital needs
study done, and analysis,” she explained.
“Each one was a standard piece, but it was a project that brought all pieces
together,” in an unusual way, Rust added.
The journey from potential litigation to preserving 16 affordable housing units
in a community with still-rising property values “shows that the town is really
committed to preserving its affordable housing,” Rust said. “The town was
proactive and cooperative and supportive. No one got the better deal or outdid
each other.”

http://lexington.wickedlocal.com/news/20171215/sixteen-lexington-affordable-housing-units-locked-in-for-good

SourceWicked Local Lexington

Renovations complete at Framingham’s Tribune Apartments

When he first arrived in Massachusetts in the early 1980s, Samuel Salguero had no trouble finding an affordable place to live.

The 67-year-old immigrated to the United States from Guatemala decades ago, settling first in Los Angeles, then moving to the Bay State for work.

Salguero said he didn’t worry as much back then about making rent. But Salguero — who got a job driving cars at ADESA, the auction house in Framingham — suffered a health setback. A car accident in 2004 left him with a broken neck and broken back.

He was forced into early retirement, and as housing costs began to rise, Salguero saw his options dwindling. Salguero says he was lucky to find a spot in the Tribune Apartments, a 53-unit complex on Irving Street that offers affordable rents to seniors and people with disabilities.

After living in the building for nearly a decade, Salguero was especially delighted this summer when construction crews arrived to renovate his apartment. They overhauled the kitchen, fixed the leaky ceiling and finished the work in time for his wife to cook a turkey in their brand new stove for Thanksgiving.

“I’m so happy,” Salguero said. “I live nice and comfortable. We got a brand new AC, nice kitchen and everything. I don’t have any complaints about it.”

State and local officials gathered with Salguero and other tenants of the apartment complex Friday to celebrate the completion of major renovations. The multimillion dollar project, funded in part by the state, helped shore up the century-old building, ensuring a supply of affordable housing is available in South Framingham in the future.

“We need to really make a concerted effort to ensure that people have quality affordable housing at all levels,” state Sen. Karen Spilka, an Ashland Democrat, said, “especially in light of the way that housing prices are skyrocketing and affordable housing options are becoming increasingly limited.”

Located at 46 Irving St., the Tribune Apartments comprises a pair of four-story buildings, one of which was previously the home of the Framingham Tribune newspaper. The Tribune Building was constructed in 1892 to house the weekly publication.

Next door, the Victory Building was added in the early 1900s. The buildings were joined in 1982 and converted to housing for seniors and people with disabilities. The complex is now listed on the National Register of Historic Places.

Preservation of Affordable Housing, a nonprofit that owns and operates low- and moderate-income housing in nine states, acquired the facility in 2013.

POAH looks for opportunities to preserve affordable housing in markets with rising rents. It began renovations in January 2017 on the Tribune Apartments, tapping a major grant from the state.

The organization received nearly $3.6 million from the state’s Housing Preservation and Stabilization Trust Fund. The money paid for a roof replacement, upgrades to kitchens and bathrooms, energy efficient appliances, new windows, a new sprinkler system, accessibility improvements and a new management office.

The state also helped fund a partnership with BayPath Elder Services, which will maintain a full-time office at the apartment building. BayPath will help connect tenants with health programs, financial education, computer classes and other services.

Reflecting on her own time living on the Southside, Mayor-Elect Yvonne Spicer said her first apartment in Framingham was located a short distance away on Eames Street. Working as a teacher and living on a salary of $18,000, Spicer said it was vital to find an affordable place to live in the community.

Spicer said she plans to work toward increasing the amount of affordable housing in the community when she begins her first term in office next year.

“If our people are not thriving in downtown, then we as a whole community cannot thrive,” she said, “and so I am putting a lot of my energy in thinking about our underserved areas, making sure that there’s more affordable housing — that people can stay here.”

http://www.metrowestdailynews.com/news/20171215/renovations-complete-at-framinghams-tribune-apartments

SourceThe MetroWest Daily News

By-women, for-women housing program helping to save lives

Soldier On, a Leeds, Mass.-based charity aiming to end veteran homelessness, constructed 16 units of transitional housing specifically for women in December 2015 — and they were immediately fully occupied.

“I think the need is much bigger than people realize, because it’s so hard to estimate the number of homeless female veterans, because they’re not identifying as veterans. They’re not identifying as homeless,” said Sara Scoco, the director of the women’s program at Soldier On.

“They’re oftentimes couch-surfing or staying in these relationships. A lot of women are living in their cars just to try and survive. A lot of women are taking care of families and … they’re too proud to say, ‘I’m homeless. I need help,’ ” Scoco said.

So Soldier On became one of the few nonprofits in America to construct housing specifically to meet the unique needs of female vets. The $3.1 million building in Leeds features four suites of four bedrooms for a total of 16 rooms.

There’s a shared living room, and the building sits on the Northampton VA Medical Center campus, which agreed to a 75-year lease to Soldier On for the housing property.

Women can stay for months or years at a time while they seek treatment, go back to school, save money or try to land a job, Scoco said.

Most have experienced some kind of abuse, said Scoco, including about 80 percent who are victims of military sexual trauma.

“It’s really intimidating for a woman to walk into the VA when many of the services are male-dominated,” Scoco said. “It’s often assumed that the woman is not the veteran, but the daughter or sister of the veteran herself.”

As word has spread, Scoco said Soldier On fielded calls from Colorado, Texas and as far away as Hawaii.

The organization receives funding from the VA, among other sources. And it is hoping to receive state money to build permanent housing specifically for women vets in Pittsfield.

The organization started in 1994 as United Veterans of America. As its men’s program grew, women also began to seek services, leading to the launch of the women’s program in 2005, which was mainly a separate unit within the men’s housing.

Then the all-female housing was finished in 2015.

Mary Thurber, who was an active duty Army supply specialist from 2006 to 2011, came to Soldier On after she sought treatment for alcoholism at the VA, where she was the only woman in the program.

Thurber, now one of the 16 vets at the Soldier On Leeds house, hasn’t had a drink in five months and credits much of her recovery to the nonprofit and its by-women, for-women arrangements.

“This place,” Thurber said, “has literally saved my life.”

http://www.bostonherald.com/news/local_coverage/2017/12/by_women_for_women_housing_program_helping_to_save_lives

SourceBoston Herald

Blanchard School housing project receives final financing

The Virginia A. Blanchard School has been vacant for 15 years, but after the last piece of financing fell into place Friday, it should see new occupants – renters in affordable apartments – by early 2019.

The final funding was provided by the Massachusetts Housing Investment Corporation, and included $6.2 million in federal low-income housing and historic tax credits, according to a news release from the agency.

The school will be redeveloped into one-, two- and three-bedroom units, reserved for households with incomes ranging from below 30 percent of the area median income up to 60 percent of the area median income. Developers will give priority to veterans and Uxbridge renters.

The main building will be converted into nine rental apartments, a management office and community space. A four-story addition containing 16 apartments will be constructed at the back of the existing school.

The Virginia Blanchard Memorial Housing Association, which is developing the project along with Jon Juhl of JNJUHL & Associates, has been working with the town since 2010 on a redevelopment plan. Built in 1873 as an elementary school, the building served as an educational site for more than 125 years.

Other major sources of funding include: The Life Initiative ($6 million construction loan), the state Department of Housing and Community Development ($2.2 million), Massachusetts Housing Partnership ($250,000 permanent loan), state low-income and historic tax credits ($1.7 million, purchased by UniBank) and $33,207 of historic funds from the town. The Community Economic Development Assistance Corporation provided pre-development funding.

Nunes Trabucco Architects of Needham and general contractor Sugrue & Associates, of North Scituate, R.I., are on the development team.

Harry Romasco, president of Virginia Blanchard Memorial Housing, told selectmen Monday that he would propose that the School Committee set up a Virginia Blanchard scholarship fund with $100,000 in proceeds from transfer of the school to the housing development from the town.

http://www.telegram.com/news/20171201/blanchard-school-housing-project-receives-final-financing

SourceWorcester Telegram

CCRI Supports More Than 500 Housing Units For Veterans

Veterans in Massachusetts and across the country are in need of housing and access to supportive services. MassHousing is partnering with a number of organizations to help increase the availability of quality affordable housing for Veterans.

The funding comes through the Center for Community Recovery Innovations (CCRI), a nonprofit subsidiary of MassHousing that works to increase the availability of affordable, sober housing and supportive programming.

“The need for affordable sober housing reaches across all populations, men and women, young and old,” said Ed Chase, Director of CCRI. “Veterans are among those whose recovery from alcohol and drug abuse can be bolstered by a substance free and supportive environment in the community. CCRI is proud to collaborate with dedicated local partners to provides this quality housing.”

MassHousing has provided more than $1.8 million in funding to support 520 units of affordable sober housing at 24 developments for Veterans and formerly homeless Veterans in Massachusetts.

CCRI Projects Serving Veterans

Project Name CCRI
Award		 Location Units
Veterans, Inc (Cambridge Street) $50,000 Worcester 9
Montachusett Vets Outreach Ctr. $75,000 Gardner 19
Soldier On $50,000 Leeds 70
NeighborWorks (Fr McCarthy’s) $70,000 Quincy 19
Veterans, Inc. (Grove St) $75,000 Worcester 20
Caritas (North Street) $75,000 New Bedford 19
Bedford Veterans Quarters $75,000 Bedford 54
NeighborWorks (Sansatini House) $75,000 Quincy 10
Fr Bills & Mainspring (Work Express) $75,000 Brockton 32
Mass Sober Housing (Hooper Street) $29,610 Chelsea 5
Veterans, Inc (Sheridan Street) $75,000 Worcester 10
Soldier On $70,000 Pittsfield 39
Fr Bills & Mainspring (Fort Hill) $75,000 Hingham 6
Bi-Lingual Veterans Outreach Ctrs. (Cass St) $75,000 Springfield 19
Volunteers of America (Mass Bay Vets Center) $75,000 Somerville 26
CHOICE (Home for Our Veterans) $150,000 Chelmsford/Westford 13
Veterans, Inc (Sheridan Street) $25,000 Worcester 9
New England Center and Home for Veterans $75,000 Boston 35
Partners in Housing (O’Connor Sisson House) $75,000 Dartmouth 9
NeighborWorks (E Howard Street) $125,000 Quincy 12
Fr Bills & Mainspring (Jack’s Pl & Patti’s House) $125,000 Brockton 21
Veterans Inc (Independence Hall) $75,000 Shrewsbury 35
NeighborWorks (Main St) $75,000 Weymouth 6
Fr Bills & Mainspring (Montello WH II) $75,000 Brockton 23
TOTAL $1,819,610 520

 

Putting CCRI Dollars to Work

One of those developments is Weymouth Veterans House, a six-unit facility developed by Neighborworks of Southern Massachusetts (NWSOMA) in partnership with the Town of Weymouth and Father Bill’s & MainSpring, which received a $75,000 award from CCRI. The two-story property includes six single room occupancy (SRO) units (each with a kitchenette), a community room with a full kitchen, a laundry closet, common restrooms and an office for the case manager from Father Bill’s & MainSpring, a longtime partner of NWSOMA. This home is thriving in the community and is a model for other towns to replicate in the future.

NWSOMA Executive Director Robert Corley attributes the ongoing success of projects such as the Weymouth Veterans Home to the strong partnerships the organization maintains with community members, local cities and towns, and partners such as MassHousing.

“Support from MassHousing through programs such as the Center for Community Recovery Innovations helps ensure that we are able to continue our work year after year to create stable homes with supportive services through creative and comprehensive approaches to ending homelessness, particularly for US Military Veterans, in our community,” he said.

Since 1996, NWSOMA has developed and assisted in the development of 50 homes on the South Shore with a preference for Veterans and their families. Eight more Veterans’ homes under development now. Father Bill’s & MainSpring partners with NWSOMA on these projects, providing emergency and permanent housing, job skills training and other services in southern Massachusetts. Along with transforming vacant, blighted neighborhood eyesores into new, energy-efficient homes and green spaces to support formerly homeless Veterans, NWSOMA also works to raise public awareness of Veterans’ dire predicament and break down the stereotypes that act as barriers.

About CCRI

CCRI issues an annual Request for Proposals (RFP) to solicit projects for funding. The proposals that are selected need to meet CCRI’s current priorities, which include Veterans and women with children. The grants are typically used as one-time gap funding for capital projects that increase or improve the stock of affordable sober housing. Programs that provide services to address alcohol and/or drug abuse or addiction. CCRI grant recipients must be nonprofit organizations and matching funds must be provided.

To date, CCRI has awarded more than $10 million in grants for the creation or preservation of more than 2,100 units of substance-free housing, in 50 communities, serving recovery populations that include men, women, families, Veterans, the homeless and ex-offenders.

http://masshousing.typepad.com/my_weblog/2017/11/ccri-supports-more-than-500-housing-units-for-veterans.html

SourceMassHousing Blog

Chinatown Development Includes 51 Affordable Condos

A 51-unit development will provide homeownership units selling for under $200,000 in Boston’s Chinatown, a neighborhood under pressure from gentrification and conversion of apartments into short-term rentals.

Asian Community Development Corp. led the 88 Hudson St. project on parcel 24, which became available from the Massachusetts Department of Transportation following the completion of the Central Artery Tunnel project. The latest phase includes a mix of one- through three-bedroom condos restricted to households earning from 60 to 100 percent or less of the area median income, with sales pricing ranging from under $200,000 to $235,000.

The financing package included a contribution from the city of Boston totaling more than $6 million including $5.9 million from inclusionary development funds and $750,000 from the City of Boston’s Neighborhood Housing Trust, $2.1 million from the Massachusetts Department of Housing and Community Development and Housing Stabilization Funding and $1.9 million in Affordable Housing Trust Funds. Eastern Bank provided an $8.9 million construction loan  and CEDAC provided predevelopment financing for the project.

The first phase of parcel 24, the One Greenway project, was completed in 2015. That phase included 312 apartments, including 95 affordable units and 3,300 square feet of retail space.

Chinatown Development Includes 51 Affordable Condos

SourceBanker & Tradesman

Ludlow Mill Redeveloped As 75-Unit Mixed-Income Complex

A $19.3 million redevelopment of a 110-year-old historic mill in Ludlow has generated 75 new units of mixed-income senior housing that are already 100 percent leased.

The Residences at Mill 10 contains 63 one-bedroom and 12 two-bedroom apartments for residents ages 55 and older. The complex includes 51 units restricted to households with incomes at or below 60 percent of the area median income (AMI) and 15 set aside for households at or below 30 percent AMI.

Boston-based WinnDevelopment led the project at the 108,163-square-foot building, which is listed on the National Historic Register.

“People began asking to be put on the waiting list for apartments in Mill 10 almost as soon as we began construction, so there is no doubt that the desire for quality housing for seniors in this region is strong,” Larry Curtis, president and managing partner of WinnDevelopment, said in a statement.

The 170-acre former mill complex, formerly the home of the Ludlow Manufacturing and Sales Co., includes more than 60 buildings once used to manufacture rope and twine.

Financing for the project included state and and federal low-income housing tax credits; funding from the housing stabilization fund and HOME fund of the Massachusetts Executive Office of Housing and Community Development; state and federal historic tax credits; tax credit equity from Bank of America; a loan from the Boston Community Loan Fund; money from the Affordable Housing Trust Fund managed by MassHousing; a loan from the town of Ludlow; Facilities Consolidation Fund proceeds from the Community Economic Development Assistance Corporation; a first mortgage from Massachusetts Housing Partnership; project-based subsidies from the U.S. Department of Housing & Urban Development (HUD); and owner equity in the form of a deferred developer fee.

BofA provided construction financing. Quincy-based Dellbrook Construction served as general contractor and The Architectural Team of Chelsea was the architect.

WinnDevelopment also has secured the rights to develop housing at Mill 8, known as the Clock Tower building.

The property is owned by nonprofit Westmass Area Development Corp.

Ludlow Mill Redeveloped As 75-Unit Mixed-Income Complex

SourceBanker & Tradesman