HOLYOKE, Mass. — WinnCos. has completed a $55.3 million seniors housing adaptive reuse project in Holyoke. A redevelopment of a vacant mill complex, Residences at Appleton has delivered 88 affordable housing units for residents age 55 and older.
Twelve of the apartments are reserved for seniors earning at or below 30 percent of the area median income (AMI); 63 apartments are reserved for seniors earning at or below 60 percent of the AMI; and 13 apartments are reserved for seniors earning at or below 80 percent of the AMI.
Residences at the development include four studio, 75 one-bedroom and nine two-bedroom units. Amenities at the property include a fitness center, resident lounge, outdoor recreation area amd laundry facilities.
Previously the largest alpaca mill in the world, the complex has been largely vacant since the 1970s. The Holyoke Redevelopment Authority provided a ground lease and dedicated a portion of the proceeds to structural stabilization of the mill complex.
Keith Construction served as the general contractor, and The Architectural Team was the architect. VHB provided civil engineering and permitting services.
Local nonprofit OneHolyoke provided gap financing for the project, and Bank of American served as the construction lender and the investor in the project’s state and federal low-income housing tax credits. MassHousing provided tax-exempt bonds for the development, and the Massachusetts Executive Office of Housing and Livable Communities provided subordinate loans.
Based in Boston, WinnCos. is a family-owned, private company.