Main South Community Development Corp. has secured the site where it plans to construct a five-story apartment building with 41 units of affordable workforce and senior housing.
Main South CDC purchased the parcels at 11 and 12 Hammond St. for $1.3 million on Thursday, according to Worcester District Registry of Deeds. The site is a parking lot owned and formerly used by Alfred Roy & Sons Funeral Home.
Alfred Roy & Sons moved to 33 Ward St. in November, following a merger with Henry-Dirsa Funeral Home and Dirsa-Morin Funeral Home, according to the Worcester Telegram & Gazette.
The project at 11 Hammond St. will be called Hammond Heights and include 25 two-bedroom apartments, 13 one-bedroom units, and three studio apartments. The project received a variance from the Worcester Zoning Board of Appeals on March 16 to reduce the on-site parking requirement to 35 spaces after receiving approval from the Worcester Planning Board on March 11.
The project will be eligible for $4 million in tax credits over the course of five years from the state’s Low-Income Housing Tax Credit program, Todd Rodman, an attorney with Worcester-based law firm Seder & Chandler, said at the March 16 ZBA meeting.
The purpose of the project is to provide housing for low-income residents in Worcester’s Main South neighborhood, Rodman said. Of the 41 units, 12 will be made available to those earning less than 30% area median income, with the remaining 29 units reserved for households making 60% area median income or below.
The application materials note one-third of Main South residents live below the poverty line.
Founded in 1986, Main South CDC focuses on neighborhood revitalization through housing development and community-based programs addressing poverty.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
