Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

May 5, 2022

First half of 115-unit senior housing project in Auburn opens

Photo | Courtesy of Pennrose A ribbon cutting ceremony was held at the new 55-unit senior housing complex in Auburn.

A 55-unit, mixed-income senior housing complex at the former Mary D. Stone Elementary School in Auburn officially opened on Thursday.

The complex was an historic rehabilitation project of a 1920s-era school building at 10 Church St., according to a Wednesday press release from Pennrose Properties, LLC, the Philadelphia-based firm whose Boston office headed the redevelopment.

The apartments are for seniors of 62 years or older and include both market-rate and affordable units ranging from studios to two-bedrooms. Of the 55 units, 45 have affordability restrictions.

The Mary D. Stone apartments received subsidies from the Massachusetts Department of Housing and Community Development. Financing included 9% federal and state low-income housing tax credits, as well as Massachusetts Historic Commission tax credits, according to a report on the Town of Auburn’s website.

Pennrose is developing a second 62+ community in Auburn at 3 Vinal St. which was also formerly an elementary school and will be known as the Julia Bancroft Apartments, according to its website. The 60-unit complex is slated to open in the fall. 

The Town of Auburn selected Pennrose to redevelop both properties after the two schools closed in 2015.

CORRECTION: A previous version of this story stated that 51 units have affordability restrictions. The correct figure is 45.

Sign up for Enews

WBJ Web Partners

0 Comments

No More articles left

To read more, please
Login or Register (free)

 

To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy

Allow Cookies