MassHousing has closed on $2 million in loans for the award-winning, 75-unit Linwood Mill, a new affordable housing community for low-income senior citizens.
Linwood Mill, which was constructed in a former cotton mill at 670 Linwood Ave., was developed by a partnership between EA Fish Development of Braintree, the O'Connell Development Group of Holyoke, and Boston attorney Gerard F. Doherty.
MassHousing provided $2 million in financing for the project, which is completed and fully occupied. Additional financing included $1 million from the Affordable HousingTrust Fund, which is managed by MassHousing on behalf of the state Department of Housing and Community Development, and the sale of federal and state Low-IncomeHousing Tax Credits.
In April, the development received a Preservation Award from the Massachusetts Historical Commission for the "rehabilitation and restoration and adaptive reuse of Linwood Mill," which was originally built in 1868.
"Linwood Mill is an award-winning example of how an underused mill building from a former century can be transformed into quality affordable housing - in this case for low-income senior citizens - while maintaining the historical significance of the property," said MassHousing executive director Thomas Gleason.
All 75 apartments are affordable to low-income seniors and the unit mix includes 16 studios, 46 one-bedroom apartments and 13 two-bedroom apartments. The contractors were Dellbrook Construction and Western Builders, Inc.; the architect was the Architectural Team and the management agent is Peabody Properties.
Also, MassHousing has closed on $2.1 million in loans for the 66-unit Barstow Village, a newly constructed affordable housing community for senior citizens in Hanover.
Barstow Village was developed by EA Fish Development and the Planning Office for Urban Affairs, a non-profit housing developer affiliated with the Roman Catholic Archdiocese of Boston.
MassHousing provided $2.1 million in permanent financing for the project, which is completed and fully occupied. Additional financing included $716,588 from the Affordable Housing Trust Fund, which is managed by MassHousing on behalf of the state Department of Housing and Community Development.
"Barstow Village is a brand new housing community for senior citizens and all the apartments are affordable," said MassHousing executive director Thomas Gleason. "This brand new development will be an important affordable housing asset for the town of Hanover and the senior citizens who live there for many years."
All 66 apartments are affordable and the unit mix includes 64 one-bedroom apartments and 2 two-bedroom apartments in a three-story building. Barstow Village also has supportive services to foster independent living.
The contractor was Dellbrook Construction; the architect was the Architectural Team and the management agent is Peabody Properties.