Photo courtesy of MassHousing

Nonprofit developer Preservation of Affordable Housing has closed on its acquisition of a 227-unit, 3-building portfolio in Attleboro.

The acquisition was financed with a $17.2 million loan from MassHousing, which will also go towards initial renovations at the three properties. MassHousing and POAH say they plan a second loan in the future which will fund major renovations and support affordability extensions at all three.

Hebronville Mill is a six-building, 83-unit complex located at 988 Read St. in Attleboro. It was originally constructed in the 1850s as a cotton production facility. The mill was converted to housing in 1985, with townhome buildings added to the property in 1989.

Gardner Terrace II is located at 169 Knight Ave. and is attached to Hebronville Mill. Its two buildings were constructed around 1850 as weaving mills and its 52 one-bedroom apartments are supported by a federal Section 8 Housing Assistance Payment contract for lower-income households.

Gardner Terrace I is located in two buildings at 46 Pine St. near downtown Attleboro, and about four miles from Hebronville Mill and Gardner Terrace II. Originally built in the 1850s as jewelry factories, the buildings were converted to housing in 1984. All 92 one-bedroom apartments are also supported by a Section 8 HAP contract.

“Hebronville Mill and Gardner Terrace I and II are in need of financial stability and significant property improvements to ensure that these 227 rental homes remain a viable, affordable option for the families and individuals who live there,” MassHousing Executive Director Chrystal Kornegay said in a statement. “POAH is a high-capacity organization with a deep commitment to serving the needs of lower-income residents, and MassHousing is  pleased to be able to partner with them on this important revitalization effort.”