Developments > Union Crossing Residential
This project represents the first phase of a three-phase, $75 million project involving the adaptive reuse and historic rehabilitation of two large textile mills. It is being developed by Lawrence CommunityWorks. Located on an island near the east end of the Merrimack River, a few blocks from downtown Lawrence, the project consists of 60-units of affordable rental housing. In addition to five floors of housing, the project includes common areas and community space. MHIC provided a $10.8 million low-income housing tax credit investment, with TD Bank as the sole investor. This development provides badly-needed affordable rental housing in this community, which has been hit hard by foreclosures.
Union Crossing Residential
Project at a Glance:
Location:
Lawrence
Development Type:
Rental
Project Type:
Historic rehabilitation/adaptive reuse
MHIC Financing:
$10,871,810 in LIHTC financing
Sponsor:
Lawrence Community Works
Number of Units:
60
This project represents the first phase of a three-phase, $75 million project involving the adaptive reuse and historic rehabilitation of two large textile mills. It is being developed by Lawrence CommunityWorks. Located on an island near the east end of the Merrimack River, a few blocks from downtown Lawrence, the project consists of 60-units of affordable rental housing. In addition to five floors of housing, the project includes common areas and community space. MHIC provided a $10.8 million low-income housing tax credit investment, with TD Bank as the sole investor. This development provides badly-needed affordable rental housing in this community, which has been hit hard by foreclosures.