Here are the keys:
- $22,500,000
- 94 units
- approximately 240,000 (that is actually one of the lower ones we have ever seen, but still 240 per rental unit)
- the real key is that all of the units are “affordable”
As we have said many time we need more market rate housing in the City of Worcester. Projects like Winn has done at the former Trade School and Chevalier Furniture will have a profoundly positive possible. We can only assume that the vacant lot next to this build will have another 100% affordable project over the next 5-1o years to compliment the 100% affordable project on the other side of the side (Southgate Street).
This Boston Editorial a couple years back does a great job explaining why this is not a good idea.
Former Crompton & Knowles building in Worcester could have new life http://t.co/G17tCVw4 #Worcester
— Telegram & Gazette (@telegramdotcom) September 13, 2012
Renovation of long-vacant Crompton and Knowles mill on Grand St. into apartments now under way. $17 million @MassHousing loan package. — Thomas Caywood (@ThomasCaywood) August 15, 2014
