First half of 115-unit senior housing project in Auburn opens
Photo | Courtesy of Pennrose
A ribbon cutting ceremony was held at the new 55-unit senior housing complex in Auburn.
A 55-unit, mixed-income senior housing complex at the former Mary D. Stone Elementary School in Auburn officially opened on Thursday.
The complex was an historic rehabilitation project of a 1920s-era school building at 10 Church St., according to a Wednesday press release from Pennrose Properties, LLC, the Philadelphia-based firm whose Boston office headed the redevelopment.
The apartments are for seniors of 62 years or older and include both market-rate and affordable units ranging from studios to two-bedrooms. Of the 55 units, 45 have affordability restrictions.
The Mary D. Stone apartments received subsidies from the Massachusetts Department of Housing and Community Development. Financing included 9% federal and state low-income housing tax credits, as well as Massachusetts Historic Commission tax credits, according to a report on the Town of Auburn’s website.
Pennrose is developing a second 62+ community in Auburn at 3 Vinal St. which was also formerly an elementary school and will be known as the Julia Bancroft Apartments, according to its website. The 60-unit complex is slated to open in the fall.
The Town of Auburn selected Pennrose to redevelop both properties after the two schools closed in 2015.
CORRECTION: A previous version of this story stated that 51 units have affordability restrictions. The correct figure is 45.
WBJ Web Partners
Most Recent
Most Recent
0 Comments