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Attleboro Mill Gets Financing for Apartment Conversion

By Steve Adams | Banker & Tradesman Staff | May 3, 2023 | Reprints | Unlock Link

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Image courtesy of Jonathan Cozzens

A developer will put $11.3 million in financing from HarborOne Bank and MassDevelopment to work in converting a blighted Attleboro mill property into market-rate housing.

The former Pcraft Jewelry property at 54 Union St. in downtown Attleboro will be converted into 43 apartments by developer Jonathan Cozzens of Lee Properties, which has completed reuse projects in Haverhill and Lowell.

The property is part of Attleboro’s Transformative Development Initiative (TDI) District, a MassDevelopment program that provides funding and technical assistance for Gateway Cities’ downtowns.

The financing package includes a construction loan, bridge loan from the state’s Housing Development Incentive Program (HDIP) and federal and state historic tax credits, MassDevelopment announced.

Lee Properties previously developed the Haverhill Smart Lofts at 6 Washington St. and Karelis Shoe Mills at 266 River St. in Haverhill.

B&T Daily