Image courtesy of Rockland Trust Co.

Over $20 million in construction loans from Rockland Trust Co. are going toward conversions of two Worcester commercial properties into multifamily housing.

Both projects are led by developer Anthony Rossi, who also is converting the former Walker Shoe Factory on Water Street into apartments which are scheduled for tenant move-ins later this winter.

“His approach to renovating unused buildings in cities such as Worcester has a proven track record of, not only providing in-demand housing options, but also revitalizing our local communities,” Rockland Trust Vice President Steven Provanzano said in a statement.

The latest projects include a $13.3 million renovation of properties on Sudbury St. and 8 Harvard St. to create more than 100 apartments, and a $7.8 million renovation project on Hermon Street and 9 Harris Court creating 57 apartments in two buildings connected by an enclosed catwalk. A restaurant and food market is planned for the third building.

Worcester Multifamily Conversions Totaling 157 Units Get Financing

by Banker & Tradesman time to read: 1 min
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