WinnCompanies announced it has received the financing commitments needed to acquire and renovate The Stone Mill, built 176 years ago by the founder of Lawrence, MA, into 86 apartments serving families and individuals across a range of income levels.
The company said its development arm, WinnDevelopment, plans to begin construction early in 2022 on the $34 million historic adaptive reuse project, which will preserve, restore and transform the 149,220-square-foot structure erected by the city’s namesake, Abbot Lawrence, on the edge of what is now the downtown business district.
“We believe the redevelopment of The Stone Mill is a transformational project that will be a key driver for economic development at the eastern end of the Essex Street corridor, which serves as the hub and spoke of downtown Lawrence,” said Larry Curtis, president and managing partner of WinnDevelopment. “The City of Lawrence was built around this building in the 19th century, and it will prove instrumental once again, thanks to a great partnership with city leadership and enthusiastic support from state housing officials.”
