Affordable apartments at former Aurora Hotel in Worcester receive $10M for upgrade
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The Aurora Apartments in Worcester
An 85-unit apartment building in downtown Worcester is set to receive $9.6 million in state financing to help fund a $10.8-million renovation.
MassHousing, a quasi-public agency tasked with financially supporting affordable housing projects in Massachusetts, will provide the financing to The Community Builders, a Boston-based nonprofit developer of mixed-incoming housing, which owns The Aurora Apartments in Worcester’s downtown.
Located at 660 Main St., Aurora will undergo renovations to its apartment units, building systems, and infrastructure, according to a Monday press release from MassHousing announcing the financing. All 85 units at the property will remain affordable after the renovations, meaning they will be available to residents earning up to 50% of the area median income.
“The Aurora is an important source of affordable housing in downtown Worcester, but the property is in need of a significant upgrade,” Chrystal Kornegay, CEO of MassHousing, said in the release. “MassHousing is pleased that the residents of the Aurora will soon see those improvements and the extension of their affordability, while this project will further the revitalization of this central part of the city’s downtown.”
The financing includes $1.6 million in permanent and construction tax-exempt financing and $8 million in tax-exempt bridge financing. The project is being supported by financing from a number of other sources, including the Massachusetts Executive Office of Housing and Livable Communities.
Built in 1898, the building was once the site of the Aurora Hotel and converted into studio apartments in the 1980s.
The general contractor for the project is Keith Construction of Canton. Architecture Environment Life in East Longmeadow is handling designs for the renovation.
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