Construction of a $23-million, 48-unit affordable housing project in Southbridge commenced Thursday, according to a press release from Boston developer WinnCompanies, who is overseeing the project.
Located within the Southbridge Innovation Center, the adaptive reuse project will redevelop a late 19th century mill building called Southbridge Mills into 70,000 square feet of residential space.
The 1.2-million-square-foot Southbridge Innovation Center on Mechanic Street was formerly the campus of American Optical Co. before the company, which was once Southbridge’s largest employer, closed in 1979. The location has since been adapted into offices, a hotel, manufacturing space, and now apartments.
The Southbridge Mills project is expected to be complete by January 2023.
Of the 48 apartments, 43 will be available to households with incomes at or below 60% of the area’s median income. The remaining five will be reserved for those earning below 30% of the median income.
Funding for the project came from Low Income Housing Tax Credits, the Massachusetts Housing Partnership, Blue Hub Capital, the Massachusetts Historical Commission, the U.S. National Park Service, and Bank of America. It also received part of a $106-million grant from the Massachusetts Department of Housing and Community Development in October 2020.
