Boston-based WinnDevelopment has completed assembling a financing package that will enable it to acquire and redevelop the Mechanics Mill former jewelry factory in Attleboro for a 91-unit mixed-income housing project.

The development arm of WinnCos. will retain the exterior of the 4-story, 137,800-square-foot historic brick mill building into residences for residents 55 and older, including amenities and adult day care services for people with cognitive impairment.

Designed by The Architectural Team of Chelsea with Canton-based Keith Construction as general contractor, the complex will restrict 56 of the units for people earning 60 percent or less of the area median income. The other 35 units will be priced at market rate.

Construction is scheduled to begin in March with a completion date of July 2019.

Financing for the project will come from federal and state housing tax credits provided by the Massachusetts Department of Housing & Community Development (DHCD); federal and state historic tax credits from the U.S. National Park Service and Massachusetts Historical Commission; permanent mortgage financing from the Massachusetts Housing Partnership; Affordable Housing Trust funds from MassHousing; funding from the HOME Investment Partnerships Program, Housing Stabilization Fund and the Facilities Consolidation Fund managed by DHCD; and, Community Development Block Grant funding from the City of Attleboro.

Westborough-based Salmon Health and Retirement will provide adult day care and wellness services.

Attleboro Mill Redevelopment Secures Financing

by Banker & Tradesman time to read: 1 min
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