Union Crossing, a 60-unit affordable housing development in Lawrence, recently held a groundbreaking ceremony.

The housing development is in the first of a three-phase, multi-use, $75 million project involving the redevelopment of two major textile mill complexes, according to a statement.

Funding for Union Crossing was provided by the Massachusetts Housing Investment Corp. with a $10.8 million low-income housing tax credit equity investment, with TD Bank as the sole investor, according to a statement. Financing was also provided by the state Department of Housing and Community Development, the Massachusetts Housing Partnership Fund, the city of Lawrence and the federal Tax Credit Assistance Program.

Union Crossing is being developed by the nonprofit organization Lawrence CommunityWorks.