The transformation of the former Worcester County Courthouse into a $54-million apartment complex has reached the halfway mark.
“We are on track to complete construction in late summer of next year,” said Michael Lozano, Trinity Financial’s senior project manager. “We are preparing to market the apartments next spring.”
The Greek Revival building on Main Street was built in 1843, rebuilt in 1898, and the addition on Harvard Street was constructed in 1954. Since the Worcester District Court opened down the street, the nearly 250,000-square-foot building has been vacant for more than a decade.
The city bought the courthouse property from the state for $1 in 2014. Trinity paid $1.3 million for the building and the four-acre site two years ago.
[Related: Historic relics salvaged as part of Worcester courthouse renovation]
Of the 117 apartments, 64 will be affordable for income-eligible tenants with rents ranging from $800 to $1,800 for the studio, one-, two- and three-bedroom units.
The other 53 apartments will be priced at market rate ranging from $1,700 to $2,900.
Lozano said Trinity had been looking to invest in Worcester for years, but until the courthouse property became available, they have been unable to make a deal.
“Trinity has a history in Gateway Cities, so Worcester is a place we had been really interested in,” he said. “It materialized with this project. The building has a lot of challenges, it is not easy, but we like that.”
[Related: At least $170 million worth of redevelopment projects could transform Lincoln Square]
The Gov. Charlie Baker Administration has committed $6 million in mixed-income housing developments subsidies and $20 million in private equity earned through the tax credits, according to the development team.
In addition, Trinity received two rounds of historic tax credits totaling $1.6 million.
