WinnDevelopment has begun a $17.3 million renovation of a housing community for older adults in Somerville, Massachusetts.
The firm acquired the 97-unit mixed-income development from the Visiting Nurse Association of Eastern Massachusetts, which will continue to offer supportive services to residents.
“We’re pleased to get underway with a project that will make an important source of senior housing in metro Boston more affordable and significantly more environmentally sustainable,” said WinnDevelopment president Adam Stein. “It took a strong partnership among local and state government and private financial institutions to reach this milestone.”
The renovation of the property, which will be renamed The Somerhill, will create an all-electric community that uses at least 40% less energy by replacing the entire building envelope and all HVAC systems while installing new insulation and leading heat pump technology.
Built in 1999, the property offers all one-bedroom apartments for residents 55 and older.
WinnDevelopment is also making the homes more affordable to its residents. Under its new affordability configuration, market-rate apartments at The Somerhill have been reduced from 24 to 19, and units available at 60% of the area median income (AMI) have increased from 24 to 29. In addition, 20 units previously restricted at 40% and 50% of the AMI are now restricted at 30% of the AMI.
“This project proves that when we pool state, city, and private resources and raise the bar on our expectations, we can deliver on multiple goals with one project. It will not only increase the number of affordable senior housing units but also will deepen their affordability, improve their quality, and deliver sustainable housing that advances our climate goals to boot,” said Somerville mayor Jake Wilson. “Housing solutions deserve, and need, our most ambitious and creative thinking, and I look forward to keeping this momentum going as we continue to take on the housing crisis with our partners.”
The financing partners include the Massachusetts Executive Office of Housing and Livable Communities (EOHLC), which provided low-income housing tax credits and loans through its Housing Stabilization Fund, Affordable Housing Trust Funds, and Climate Ready Housing (CRH) programs. Massachusetts Housing Partnership will help oversee the CRH loan.
MassHousing is providing a permanent mortgage and bridge loan. The city of Somerville provided a $2 million loan from its Affordable Housing Trust Fund and worked with EOHLC to refinance existing HOME loans from when the project was first built.
Citizens is serving as construction lender and equity investor for the rehabilitation. “At Citizens, we are proud to support the preservation and improvement of affordable senior housing through partnerships like this one. The Somerhill project reflects a collaborative approach to strengthening housing stability while investing in energy-efficient upgrades that support the long-term resilience of the community,” said Lisa Murray, president of Citizens Massachusetts.
Boston Financial is the project’s tax credit investor. CEDAC and BlueHub Capital are also providing loans.
In addition, the Massachusetts Department of Energy Resources provided funding through its Affordable Housing Decarbonization Grant Program, while MassSave will deliver rebates through its Low-Income Energy Affordability Network program.
The project is being overseen by WinnDevelopment senior project director Hagop Toghramadjian and is expected to be completed early in 2027. The Congress Cos. is the general contractor, while Khalsa Design is serving as the architect.