Boston & New England + Metro Boston + Apartments | May 1, 2023

MassDevelopment & HarborOne Bank Provide $11M to Convert Former Downtown Mill Property

MassDevelopment and HarborOne Bank have teamed up to provide $11.3 million in loan financing for the redevelopment of a former mill and manufacturing facility in downtown Attleboro, Massachusetts.

Developer Jonathan Cozzens plans to convert the blighted building at 54 Union St. into 43 market-rate apartments. The financing package included a construction loan, a Housing Development Incentive Program bridge loan, and a bridge loan for federal and state historic tax credits.

“Adding 43 market-rate apartments helps us fight the housing crisis and diversifies the housing stock with a mix of market rate and affordable units across the community – we should applaud Attleboro for seeing the value in both!,” said Dan Rivera, president and CEO of MassDevelopment.

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Dan Rivera

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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