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Boston & New England  + Metro Boston  + Senior Housing  |  September 25, 2024
Paul Bubny
By: Paul Bubny

WinnCompanies Secures $35M Loan for Worcester Seniors Project

Affordable housing developer WinnCompanies LLC secured $35 million in financing from Rockland Trust for a project situated in Lincoln Square in Worcester, MA. The project, known as The Residences at Lincoln Square, will include the adaptive reuse of the Worcester Boys Club and the new construction of an adjacent residential building. The two buildings will offer a total of 80 affordable rental housing units specifically designed for seniors and disabled households.

Other sources of financing include funds from the Executive Office of Housing and Livable Communities, City of Worcester, MassHousing, Massachusetts Housing Partnership, BlueHub and MassDevelopment. WNC is the investor in the LIHTC and HTC generated by the project.

“We’re proud to count Rockland Trust as a partner on an exciting project that will contribute to Worcester’s resurgence and deliver the first downtown affordable housing specifically designed for older residents,” said WinnCompanies EVP Michael O’Brien.

Join industry leaders at Connect Tri-State Multifamily on October 1 at Studio Gather, 45 Rockefeller Plaza, NYC. Learn from experts as they discuss the latest market trends, future development, and capital placement opportunities across the Tri-State multifamily landscape.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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