Image courtesy of The Architectural Team

A Lawrence mill complex will become Massachusetts’ first all-electric residential development after closing on a financing package and receiving funding from Columbia Gas’ settlement from the Merrimack Valley natural gas explosions.

WinnCompanies is redeveloping the 177-year-old Stone Mill into 86 apartments, in a project that’s designed to use 40 percent less energy than a natural gas-heated building.

The project received a $2.9 million grant from the Massachusetts Department of Energy Resources as part of a $56 million settlement negotiated by the Massachusetts attorney general’s office in the aftermath of the September 2018 explosions that killed one resident and damaged more than 100 buildings in Lawrence, Andover and North Andover.

The project will include 17 market-rate units, with the remainder reserved for households earning below 30 and 60 percent of area median income.

MassHousing provided WinnCompanies with a $4.6 million tax-exempt permanent mortgage, $20.4 million in bridge loan financing and $900,000 in Capital Magnet Fund financing.

Other financing sources included $35.1 million in low-income housing tax credits, $2.1 million in direct support from the Massachusetts Department of Housing and Community Development, $1 million from the state’s Affordable Housing Trust Fund and $500,000 in HOME funds from the city of Lawrence.