Developments > Worthington Commons
MHIC’s construction loan enabled First Resources Companies, headed up by Gordon Pulsifer, to acquire and totally renovate 12-buildings (11 historic) into 149 affordable housing units and a management office/community center on the first floor. The project, located in a historic neighborhood of Springfield, involved gut rehabilitation of two buildings to create 38 new housing units and substantial renovation of the other occupied buildings containing 111 affordable housing units. This project significantly contributes to the transformation of a Springfield neighborhood that had been known for its crime and disinvestment in the past.
Worthington Commons
Project at a Glance:
Location:
Springfield
Development Type:
Rental
Project Type:
Rehabilitation
MHIC Financing:
$7,260,000 in debt financing
Sponsor:
First Resource Companies
Number of Units:
149
MHIC’s construction loan enabled First Resources Companies, headed up by Gordon Pulsifer, to acquire and totally renovate 12-buildings (11 historic) into 149 affordable housing units and a management office/community center on the first floor. The project, located in a historic neighborhood of Springfield, involved gut rehabilitation of two buildings to create 38 new housing units and substantial renovation of the other occupied buildings containing 111 affordable housing units. This project significantly contributes to the transformation of a Springfield neighborhood that had been known for its crime and disinvestment in the past.