Stone Mill Lofts Opens to Residents as One of the First All-Electric Apartment Communities in Massachusetts MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

 BOSTON– WinnCompanies joined with federal, state and local officials to open one of the first all-electric mixed-income multifamily properties in Massachusetts, cutting the ribbon on a $39.2 million adaptive reuse development that transformed the oldest mill in Lawrence, MA, into 86 units of rental housing. Massachusetts Congresswoman Lori Trahan, Massachusetts Housing Secretary Ed Augustus, U.S. Department of Housing and Urban Development Regional Administrator Juana B. Matias and Lawrence Mayor Brian DePeña were among those who celebrated Stone Mill Lofts, offering 58 apartments for households earning up to 60 percent of Area Median Income (AMI), 11 apartments for those earning up to 30 percent AMI and 17 market rate units inside the 179-year-old Stone Mill building.

 “The origin story of the City of Lawrence comes full circle today as we unveil a beautifully restored 19th century manufacturing landmark that is now fully equipped with 21st century energy-efficient building systems,” said WinnDevelopment President and Managing Partner Larry Curtis. “Thanks to our partners, this two-year construction effort has delivered much-needed mixed-income housing for households who will help write the next chapter in the Lawrence success story.” The development’s fossil-fuel-free design is expected to use 46 percent less energy and emit 33 percent fewer greenhouse gases than a typical gas-fired multifamily structure. The energy efficient design, including heat pumps and energy recovery systems, will save 177 metric tons of avoided greenhouse gas emissions each year.

 “It’s only fitting that the Stone Mill, where workers made history over a century ago fighting for the wages they deserved, is now being repurposed to once again support working families in Lawrence,” said Congresswoman Trahan. “Projects like this are crucial as we work to expand access to safe, affordable housing units for every family in Massachusetts. I’m grateful for the strong public-private partnership, including significant federal and state low-income housing tax credits, that made this project possible.” Added HUD Regional Administrator Matias: “Once again, WinnCompanies is leading the way in developing innovative, energy efficient and affordable housing in New England. Their commitment to leveraging public-private partnerships and creatively utilizing Federal and State financing resources is a testament to how we can provide residents with affordable, service-rich housing that allows them to thrive.”

 Abbott Lawrence built the 149,220-square-foot complex between 1845 and 1848, harnessing the Merrimack River to manufacture tools, mill machinery, water turbines and millwork for the textile factories that put the Northeast at the center of America’s Industrial Revolution. By 1853, the population had grown so much that a city was incorporated with Lawrence as its namesake. To help make Stone Mill Lofts possible, the Massachusetts Executive Office of Housing & Livable Communities delivered $3.1 million from the Affordable Housing Trust and Housing Stabilization Funds. The project also benefited from more than $38 million in Federal and State Low Income Housing Tax Credit equity and Federal and State Historic Tax Credit equity.

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