The 273-unit Rindge Tower Apartments will receive a MassHousing finance package in order to make improvements and maintain affordability for its residents.

MassHousing has provided $21.1 million in construction and permanent financing, a $7.5 million bridge loan and a $1.5 million supplemental subordinate loan.

Low-Income Housing Tax Credits also helped fund the $54.5 million project.

The Stratford Capital Group purchased the tax credits, contributing $11 million in project financing.

Property improvements to the 46-year-old, 22-story building include major plumbing, electrical and mechanical work, kitchen and bathroom renovations, building exterior improvements, installation of security cameras and the addition of 14 fully accessible units. The owner, Just-A-Start Corp., also intends to improve the overall energy efficiency of the building through window repair and sealing, recommissioning the building’s co-generation heating plant for maximum efficiency and using water pressure regulators to minimize waste.

The contractor will be Bilt-Rite Construction Inc. and the architect is Davis Square Architects. The management agent is the Wingate Cos.

Rents for 165 of the Rindge Tower apartments are subsidized through the federal Section 8 Housing Assistance Payment program.