MPZ Development and Capstone Communities have celebrated the opening of The McElwain School Apartments, a mixed-income housing community in Bridgewater, Massachusetts.
The development offers 57 units of housing, with 51 of them being affordable for families earning up to 60% of the Annual Median Income. It includes a former school building and a newly-built residential component that is the first Passive House multifamily building to open in Plymouth County.
“This former elementary school site will once again serve as a tremendous asset to the Greater Bridgewater community and provide high-quality housing options at rent levels that hard-working families can afford,” said Mathieu Zahler, principal of MPZ Development and Jason Korb, principal of Capstone Communities.
The $28.9 million project received state and federal historic tax credits, as well as community preservation funding. It was funded through a mix of state, local, and low-income housing tax credits, loans, and financing sources.
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.