NewsSep 16, 2015
WinnDevelopment Awarded Funding for Senior Housing at Historic Mill in Ludlow, Mass.
Historic reuse project to transform Ludlow Mill will include 66 units of affordable housing
BOSTON, MA (Sept. 16, 2015) – WinnDevelopment, the development arm of WinnCompanies, an award-winning national property development and management company, today announced funding from the Commonwealth of Massachusetts for senior housing at the historic Ludlow Mill in western Massachusetts.
The Ludlow Mill development will create 75 one and two-bedroom apartments for seniors, including 66 affordable units. Of those, 15 units will be reserved for seniors earning less than 30 percent of median income. Financing for the project is expected to close in the first quarter of 2016. Construction will take approximately 14 months at an estimated cost of $19.3 million.
“This is an important step forward for a project we have championed since 2011,” said Lawrence H. Curtis, president and managing partner of WinnDevelopment. “The housing we will create in Ludlow will help meet a pressing need among seniors in the community and inject a vibrant, residential use into plans for the center of the town.”
The development will preserve and transform Mill Building 10, a four-story 99,440-square-foot brick building that was built in 1907 and is listed on the National Historic Register. The Architectural Team, based in Chelsea, MA, will serve as architect on the project and Dellbrook Construction LLC, based in Quincy, MA, will serve as general contractor.
The WinnDevelopment effort is one component of the Ludlow Mills Preservation and Redevelopment Master Plan that details a comprehensive strategy to generate mixed-use activity at the 170-acre former mill complex along the Chicopee River. The former site of the Ludlow Manufacturing and Sales Company includes more than 60 buildings where thousands of workers once produced jute yarns, rope, twine and webbing.
Massachusetts Governor Charlie Baker and Undersecretary of Housing and Community Development Chrystal Kornegay formally announced the funding award yesterday.
WinnCompanies has completed 28 adaptive reuse projects in the past three decades, transforming landmark and historic buildings in a half dozen states and the District of Columbia into more than 3,000 units of affordable and mixed-income housing valued at $500 million. Other WinnDevelopment projects are currently underway at the Malden Mills complex in Lawrence, MA, the Livingston School property in Albany, NY, and The Sibley Building in Rochester, NY.