A $46 million mill redevelopment by Boston-based Trinity Financial has delivered 102 units of mixed-income housing to Lawrence’s Arlington Mills district.

The recently completed Arlington Point complex was built under Massachusetts’ Chapter 40R smart growth zoning overlay law, which gives communities incentive payments to permit multifamily housing near public transit and urban centers.

The project is Trinity Financial’s first in the city of Lawrence. Low-income units are reserved for households earning from 30 to 60 percent of the area median income, while workforce housing units will be available for households earning up to 80 percent of AMI.

Rents range from roughly $500 for a studio to $2,000 for a three-bedroom unit. Amenities include a fitness center, lounge and indoor and outdoor children’s play areas.

The project restored the mill complex, originally built in 1919 by the Arlington Mills Co. to produce wool and flannel. It was later acquired by the Van Brode Co. which manufactured food products including packaged military rations.

Financing was provided by federal and state low-income housing tax credits, historic tax credits, MassHousing funds and Department of Housing and Community Development stabilization funds. Additional funding was provided by the city of Lawrence, TD Bank, Red Stone Equity Partners and RBC Capital Markets.

Transit-Oriented Incentives Benefit Lawrence Mill Redevelopment

by Steve Adams time to read: 1 min
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