Arch Communities and WinnDevelopment, the multifamily housing developer within WinnCompanies, announced that construction is underway on a $25.7 million adaptive reuse project to transform a 104-year-old school building in Southbridge, MA, into 62 apartments for seniors age 55 and older.
Of the 62 apartments, 56 of the units will provide affordable housing at rents set at 60 percent of area median income (AMI), including eight apartments reserved for residents at or below 30 percent of the AMI, the companies said in a release. Six apartments will be available at market-rate rents. Six apartments will be customized for handicapped and sensory-impaired households.
“This is such a challenging time, particularly for our seniors who have been impacted significantly over the last year, and we’re thrilled to be providing this much needed safe and affordable housing for the Southbridge community,” said Arch Communities Principal Richard Relich. “We’re extremely fortunate to work with our key partners who continue to support our efforts with critical funding, including Gov. Baker and Lt. Gov. Polito, Secretary of State William Galvin and the staff at the Massachusetts Historical Commission, as well as our valuable partners at the Massachusetts Department of Housing and Community Development, MassHousing, CEDAC, BlueHub Capital and The Massachusetts Housing Partnership.
“I would also like to acknowledge our equity partner, Bank of America, who continues to make critical investments in communities across Massachusetts, including at the Wells School Apartments where Bank of America purchased all of the tax credits available and provided construction financing for the project. Without the support from our partners, redeveloping historic properties, such as the Wells School into mixed-income housing wouldn’t be possible,” Relich added.
“Adaptive reuse projects like the Wells School hold a special place among all of the development work we do,” said WinnDevelopment Executive Vice President Adam Stein. “We’re proud to have the opportunity to restore this historic landmark and return it to service on behalf of the community.”
