Winn Opens ninety five Units of 55+ Housing in Ludlow MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

 BOSTON– WinnCompanies and Westmass Area Development Corporation (Westmass) announced the opening of The Residences at Mill 8, a mixed-income community in Ludlow, MA, featuring ninety five apartments for adults 55 and older. State and local leaders gathered in the western Massachusetts community to cut the ribbon on the $43.2 million project, which not only transformed a portion of the historic mill building into much-need housing but also restored and revived the iconic clock tower and clock that has been featured on the Town seal since 1919.

 “Any doubt about the need for projects like this should be erased by the sight of people moving into this beautifully restored building even as we cut the ribbon,” said WinnDevelopment President and Managing Partner Larry Curtis. “These apartments will be filled by year end thanks to the patience and perseverance of our public and private partners, who believed in our vision for this community in the face of skyrocketing, post-pandemic financing and construction costs.”

 The 95 apartments created inside the former mill building cater to households with a wide range of incomes, offering forty three affordable units for rent at sixty percent of Area Median Income (AMI), forty market rate units, and twelve extremely low-income units available to those with income at or below thirty percent of AMI. All units have been leased and the community will be fully occupied by December 1st.  “Today marks another milestone for our region as we continue to make significant investments to expand our region’s housing stock.

 The Ludlow Mill redevelopment represents our continued commitment to improving and expanding affordable, accessible housing here in western Massachusetts and throughout the Commonwealth,” said Congressman Richard E. Neal. “I am particularly pleased that this project is the benefactor of nearly $20 million in federal tax credits, including historic and housing tax credits both of which I have championed on the House Ways and Means Committee. Covering nearly half of this $43.2 million project, it is a stark reminder of the prominent role these tax credits will play in addressing our housing needs here in Massachusetts and throughout the nation.”

 The new community represents the second phase of WinnDevelopment’s work at the property. In 2017, the company completed the adjacent Residences at Mill 10, a seventy five unit adaptive reuse community that also offers mixed-income housing for adults 55 and older.

 “Westmass is proud to partner with WinnCompanies to see this important project through to completion,” said Jeffrey Daley, president and CEO of Westmass, the private, not-for-profit industrial and business development corporation that owns the one hundred and seventy acre former mill complex along the Chicopee River in the center of Ludlow.

 “This effort marks a pivotal step in our ongoing preservation and redevelopment of the historic Ludlow Mills campus, a project we’ve been advancing since 2012. Westmass has leveraged over $2.6 million in financing resources to assist Winn with this transformative work. We are thrilled to welcome more residents to the campus and to witness the restoration of Ludlow’s most iconic landmark – the historic clock tower,” Daley added.

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