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Boston & New England  + Massachusetts  + Apartments  |  December 14, 2023
Emily Fu
By: Emily Fu

Capstone, MPZ Secure $2M for Templeton Redevelopment 

MPZ Development LLC (MPZ) and Capstone Communities LLC have secured additional funding totaling $1.5 million for The Baldwinville School Apartments redevelopment in Templeton, MA. With $750,000 from the Community Preservation Act (CPA) and the Underutilized Properties Program administered by MassDevelopment, the total support amounts to $1.93 million.  

This boosts the initiative to transform the historic Baldwinville Elementary School into 54 rental units, offering 49 affordable units for 30-60% AMI. The project, backed by Templeton’s CPA funding commitment since 2021, emphasizes mixed-income housing and historic preservation.  

The redevelopment, led by MPZ and Capstone, aims to deliver multifamily homes, and amenities including green spaces, playgrounds, and fitness facilities. The Baldwinville School Apartments anticipate completion in 2025. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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