A long-vacant mill has been transformed into 88 affordable homes for older adults in Holyoke, Massachusetts.
Developed by WinnCompanies, Residences on Appleton features four studio, 75 one-, and nine two-bedroom apartments within three interconnected, 111-year-old industrial buildings that had been deserted for decades.
“This effort preserved an iconic feature of Holyoke’s proud industrial legacy, created much-needed housing for seniors who want to stay in the community they love, and provided an economic boost to the city’s downtown” said WinnDevelopment chairman Larry Curtis. “We hope to begin work soon on a second phase that will deliver 75 additional apartments in an adjacent part of the complex.”
Once the largest alpaca wool mill in the world, the brick mill complex is one of Holyoke’s most prominent historic properties and is located across the street from a state park dedicated to showcasing the community’s industrial and cultural heritage. The complex has been largely vacant since the 1970s and has been a priority for redevelopment since the city took title to the property 12 years ago.
The adaptive reuse overseen by WinnDevelopment focused on an 86,000-square-foot section of the complex that includes three structures: Building 4, erected in 1880 and the oldest on the site; Building 5, a storage, washing, and sorting facility erected in 1905; and Building 6, also built in 1905 and the largest structure on the property.
Designed to meet the sustainability criteria of Enterprise Green Communities, Residences on Appleton is 100% electric, powered by the city of Holyoke’s clean hydropower system. It also features LED lighting, Energy Star appliances, low-flow water-conserving plumbing fixtures, and premium roof insulation. WinnResidential, the property management arm of WinnCompanies, provides day-to-day operations for the community.
The new homes are reserved for residents 55 and older earning no more than 30%, 60%, and 80% of the area median income. Eight of the units are available to eligible households through the federal project-based voucher program. Five units are set aside for Massachusetts Department of Mental Health clients through the Facilities Consolidation Fund.
The $55.3 million project was made possible with private financing and significant local, state, and federal partnerships.
The Holyoke Redevelopment Authority provided a ground lease for the mill structure and dedicated a portion of its proceeds to structural stabilization of the complex. Additional local partners include the city and local nonprofit OneHolyoke, which provided critical gap financing through local American Rescue Plan Act, Community Development Block Grant, and Community Preservation Act funds.
Bank of America served as the project construction lender and as the investor in the project’s state and federal low-income housing tax credits, authorized by the Massachusetts Executive Office of Housing and Livable Communities (EOHLC). State and federal historic tax credits were awarded by the Massachusetts Historic Commission and the U.S. National Park Service.
MassHousing provided tax-exempt bonds for the project financing, while the EOHLC provided subordinate loans, along with partners Community Economic Development Assistance Corp. and MassHousing Affordable Housing Trust.
Enterprise Bank, a full-service commercial bank based in Lowell, Massachusetts, which was recently acquired by Rockland Trust, played a key role in the redevelopment through the direct purchase of the bonds and the provision of bridge financing. BlueHub Capital also served as a lender.
Keith Construction served as general contractor for the construction effort, with The Architectural Team serving as architect. VHB provided civil engineering and permitting services.