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MPZ, Capstone Line Up Financing for Baldwinville Redevelopment
MPZ Development LLC and Capstone Communities LLC have closed on the financing of the Baldwinville School Apartments redevelopment project in Templeton, MA. With funding secured, Capstone and MPZ will begin the development process for Templeton’s first multifamily project permitted in more than 25 years.
Financing for this project was provided by the Massachusetts’ Executive Office of Housing and Livable Communities, MassHousing, Rockland Trust, National Equity Fund, the Massachusetts Historical Commission and The Life Initiative. It will transform the historic Baldwinville Elementary School into 54 rental units, 49 of which will be affordable for households earning at or below 30-60% of the Area Median Income.
Designed by ICON Architecture, Baldwinville School Apartments project will create a new Enterprise Green Communities-certified, Passive House building. The apartments will be available in several layouts and sizes, including loft, studio, one-bedroom, two-bedroom, and three-bedroom, many of which will be rehabilitated from the original elementary school.
- ◦Development
- ◦Financing
