A project that received $129 million in MassDevelopment bond financing is designed to deliver a rare middle-income housing option for senior citizens in Newton.
2Life Communities Inc.’s 174-unit Opus Newton development is being developed on a 4-acre parcel at 777 Winchester St., with completion scheduled for mid-2025.
The tax-exempt bond was issued by MassDevelopment on behalf of 2Life Opus Newton LLC.
Nine apartments will be income-restricted under Newton’s inclusionary development policy. The remainder of the project is designed to appeal to seniors who don’t meet income qualifications for affordable housing, and will include a convenience store, business center, library, game room and volunteer hub.
A 2022 study by University of Chicago estimated that the number of middle-income seniors ages 75 and up will nearly double to 16 million by 2033.
Nonprofit 2Life Communities Inc. has developed six campuses in Greater Boston and nearly 1,300 apartments, all of which it owns and manages.
Dellbrook/JKS is the contractor for the project, which was designed by Perkins Eastman.