NORTHAMPTON, Mass. (WWLP) – MassHousing has closed on $4.5 million in affordable housing financing to the Community Builders for a new, affordable, and workforce rental housing community being built at the former Northampton State Hospital.
All 53 rental homes at the North Commons at Village Hill will be deed-restricted and affordable to residents across a broad range of incomes.
According to a news release sent to 22News, the apartment homes will be contained in one L-shaped building, with 12 of the units restricted to households earning up to 30 percent of the area median income, three units restricted to households earning up to 50 percent of AMI, 24 units restricted to households earning up to 60 percent of AMI and 14 workforce housing units for households earning up to 90 percent of AMI. The area median income for Northampton is $77,200 for a household of four.
The 12 lower-income units will be supported by a combination of state and federal housing vouchers. There will be 8 studio apartments, 19 one-bedroom apartments, 22 two-bedroom apartments, and 4 three-bedroom apartments.
“North Commons at Village Hill will create a welcoming, inclusive housing community, providing high-quality affordable housing opportunities for low- and moderate-income residents,” said MassHousing Executive Director Chrystal Kornegay. “MassHousing is pleased to partner again with The Community Builders and the City of Northampton, to advance this final phase of sustainable housing for low- and middle-income households in Northampton.”
The news release states that MassHousing has supported the development of North Commons by providing TCB with $3.1 million in financing and $1.4 million in financing from the Agency’s Workforce Housing Initiative.
The housing project will have Passive House standards and feature a playground, walking paths, and lawn space for the building residents, as well as the overall Village Hill community.
According to the news release, MassHousing also provided $2.8 million in affordable and workforce housing financing for an adjacent project, the 12-unit 35 Village Hill, which will be completed this month as part of the state hospital redevelopment. That will feature 10 workforce housing apartments for moderate-income households and two deeply affordable units for clients of the Massachusetts Department of Mental Health.
Valley Community Development is working with TCB as a community liaison and was a co-sponsor for project financing.
MassHousing additionally provided approximately $3.4 million in financing for the 40-unit Village at Hospital Hill Phase Two.
MassHousing has also financed five rental housing communities in Northampton totaling 443 housing units with an overall loan amount of $36.5 million.