WinnDevelopment to Convert $19.2M Mill for Senior Community in New BedfordMarch 31, 2021
BOSTON — WinnDevelopment, the development arm of multifamily housing leader WinnCompanies, recently announced it has begun construction to convert the remainder of the historic Cliftex Mill building in New Bedford into 71 units of mixed-income housing for adults 55 and older, along with a facility to deliver on-site supportive services for seniors.
The adaptive reuse of the 114-year-old, five-story brick building will complete the residential development of Manomet Place, a 76-unit, age-restricted apartment community that WinnCompanies opened in a portion of the renovated mill in 2013. There are currently 170 applicants on the waitlist for Manomet Place, which is managed by WinnResidential.
“We’re excited to start work on an expansion of Manomet Place,” said WinnDevelopment Executive Vice President Adam Stein. “We first envisioned this project back in 2012, when we helped this property earn a spot on the National Register of Historic Places. Now, we have the opportunity to create a true mixed-income community that combines the affordable, workforce and market rate housing that seniors in the New Bedford area desperately need.”
Of the 71 new apartments, 56 will be available to seniors earning below 60 percent of Area Median Income (AMI), and 15 units will be available at 100 percent of AMI, providing a workforce housing component to middle-income households who do not qualify for traditional affordable housing subsidies but who cannot afford market rate rents.
“I’m pleased by WinnDevelopment’s continued transformation of the Cliftex site into senior housing,” said New Bedford Mayor Jon Mitchell. “This project will add more high-quality living options for senior citizens in the city, while preserving an historically significant building for important new use by residents.”
The $19.2 million project is being funded through a variety of sources, including loans from the Massachusetts Department of Housing & Community Development; construction financing from the Bank of America, permanent financing from the Massachusetts Housing Partnership; federal and state Low-Income Housing Tax Credits, along with state Historic Tax Credits, to be sold by BlueHub Capital; and strong support from the City of New Bedford using HOME program funds.
The renovation of the 135,732-square-foot space will yield 66 one-bedroom apartments, each with a den, along with 3 two-bedroom units and two smaller one-bedroom units. In addition, space will be created within a portion of the first floor for an adult day health center to address the wellness needs of residents and seniors in the surrounding community.
The apartments are expected to be ready for occupancy in August 2022. New residents will benefit from common area amenities already available a Manomet Place, including on-site laundry facilities, an on-site management office, fitness room and resident lounge.