Developments > Outing Park II
Outing Park II refers to a group of seven buildings containing 98 housing units (81 affordable and 17 market-rate) in southwest Springfield that are being redeveloped by the sponsor. The buildings were built between 1921 and 1925 and are in need of rehabilitation. Outing Park II is part of a portfolio of 16 buildings (see Outing Park I) totaling 192 units being acquired with MHIC financing for redevelopment. All buildings are located in a distressed neighborhood that has been designated a historic district named “Outing Park Historic District.” It is adjacent to Concord Heights, a project consisting of seven buildings with 104 units, also acquired for redevelopment by this developer with MHIC financing. Redevelopment of these buildings, which has the strong support of the City of Springfield, will reshape this challenged neighborhood.
Outing Park II
Project at a Glance:
Location:
Springfield
Development Type:
Rental
Project Type:
Redevelopment
MHIC Financing:
$15,960,000 in debt financing
Sponsor:
First Resource Companies
Number of Units:
118
Outing Park II refers to a group of seven buildings containing 98 housing units (81 affordable and 17 market-rate) in southwest Springfield that are being redeveloped by the sponsor. The buildings were built between 1921 and 1925 and are in need of rehabilitation. Outing Park II is part of a portfolio of 16 buildings (see Outing Park I) totaling 192 units being acquired with MHIC financing for redevelopment. All buildings are located in a distressed neighborhood that has been designated a historic district named “Outing Park Historic District.” It is adjacent to Concord Heights, a project consisting of seven buildings with 104 units, also acquired for redevelopment by this developer with MHIC financing. Redevelopment of these buildings, which has the strong support of the City of Springfield, will reshape this challenged neighborhood.