WinnCompanies Launches $42M Affordable Housing Rehab in Western MA

WinnCompanies has closed on financing for the purchase and rehabilitation of Chicopee Village Townhomes, a 290-unit affordable housing community in western Massachusetts. The deal renews the property’s affordability protections, which were due to expire in 2026, and kicks off a $41.5 million rehabilitation effort that will address deferred maintenance on the aging collection of townhouse-style buildings.

Located in Chicopee, the suburban property was originally built in 1947 and consists of 62 two-story buildings within a 17.6-acre neighborhood. The Massachusetts Executive Office of Housing and Livable Communities (EOHLC) identified the property as a preservation priority in February 2025 and tapped WinnDevelopment as its designee to make an offer for the community and lead the redevelopment in April 2025. The modernization project is currently underway and is expected to wrap up in the summer of 2028.

“Family housing like this is invaluable and rare, a fact that all of our public and private partners recognized immediately,” said WinnDevelopment President Adam Stein in a statement.

Image courtesy of The Architectural Team.