Photo | Eric Casey
Officials held a ceremony on Tuesday to mark the opening of District 120, a new 83-unit affordable housing building in the Canal District.
July 17, 2024
New 83-unit affordable Canal District apartment building sees high demand
Photo | Eric Casey
Public officials, residents, and others involved in the development of District 120 gathered for a ribbon-cutting ceremony on Tuesday.
District 120, a new 83-unit affordable housing apartment building built at the former site of the Table Talk Pies company headquarters in Worcester’s Canal District, held a ribbon cutting ceremony on Tuesday, as local officials revealed the lottery held to determine who would reside in the building drew 750 applicants.
The project is led by real estate investment firm Tremont Development, formerly known as Boston Capital, and features six studios, 28 one-bedroom units, 44 two-bedroom units, and five three-bedroom apartments.
The project received planning board approval in September 2021 and was funded by a variety of sources, including a $19.6-million affordable housing bond; Tremont applied for the bond in July 2022 and was awarded it in January, according to a press release from MassDevelopment.
Tremont bought the site at 153 Green St. for $4.55 million in January 2022.
The high number of applicants for the lottery showed the amount of demand for affordable housing in the area, said Rich Mazzocchi, principal of Tremont Development.
“If that doesn’t demonstrate demand and the critical need for affordable housing, I don’t know what does,” Mazzocchi said of the 750 applicants. “I’ve gotten to know a few of the residents over the past month or so, and to just see the positive impact on families, parents, and children of having a stable, quality place to live at an affordable rate is pretty amazing.”
For those making less than 60% of area median income, rent prices range from $1,103 for a studio to $1,559 for a three-bedroom apartment. Rent for tenants making less than 30% of area median income is set at 30% of their income.
Ed Augustus, housing secretary of the state of Massachusetts and former Worcester city manager, thanked former Table Talk Pies president Harry Kokkinis for his cooperation, as the company moved its facilities to Gardner Street to make way for the development.
Photo | Eric Casey
Ed Augustus, housing secretary of the state of Massachusetts and former Worcester city manager, speaks in front of the District 120 affordable housing building during its July ribbon cutting.
“I want to thank Harry because I can remember a number of years ago when we thought we were close on the negotiations with the team,” Augustus said, referencing the Pawtucket Red Sox, who eventually moved to Worcester and the newly-constructed Polar Park in the Canal District. “I called Harry up and said ‘Can you come in? I think we’re going to actually pull this off with the team, and we might want to think about whether getting trailer trucks into your current location is the best possible opportunity [for the site.]’”
The property is being managed by Maloney Properties, a Wellesley-based firm that manages over 10,000 units across 80 New England communities, according to its website.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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