Local and state officials gathered in Salem on Saturday to dedicate 135 Lafayette, an affordable housing community built on the former St. Joseph’s Parish campus.

The property features 51 units of housing and 4,000 square feet of commercial space and is located in downtown Salem at the corner of Lafayette and Harbor Street. Residents moved into the building earlier this year and were officially welcomed to the community during a ribbon-cutting ceremony on Saturday.

The development received funding from the commonwealth of Massachusetts, the city of Salem, Bank of America Merrill Lynch, the Federal Home Loan Bank of Boston, North Shore HOME Consortium, MassDevelopment, Massachusetts Housing Partnership Fund and the U.S. Department of Housing and Urban Development.

"With more than 1,050 applicants for these 51 apartments, there is clearly a dramatic need for more affordable housing in Salem," Lisa Alberghini, president of the Planning Office for Urban Affairs, said in a statement.  "Redeveloping the former St. Joseph’s parish campus in this way uses the property to continue the mission of the church, in a new form, for generations to come."