Worcester's Washington Heights renovation gets $28M bond
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MassDevelopment has issued a $28 million bond that will help retain a 404-unit apartment complex as affordable housing in Worcester.
MassDevelopment has issued a $28 million tax-exempt bond on behalf of Washington Heights Preservation Limited Partnership to buy and renovate a 404-unit multi-family housing apartment complex known as Washington Heights.
The Worcester project sponsored by Related Companies of New York City will preserve Washington Heights as affordable housing for 30 years, according to a release from MassDevelopment. The 21-acre property located at 55 Williamsberg Dr. is made up of 34 three-story garden-style buildings with 196 one-bedroom units, 180 two-bedroom units, 18 three-bedroom units and 10 four-bedroom units.
Of the 404 units, 366 units are affordable to households earning no more than 60 percent of the area median income.
Planned renovations include bathroom, kitchen, fire alarm and electrical upgrades; new air conditioning units, HVAC equipment, and security system; and common area painting. Other upgrades include new vinyl siding, roofs, and gutters; balcony and parking lot repairs; and improved outdoor community areas.
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