### WinnCompanies Secures Financing for First Phase of South Boston Public Housing Redevelopment
WinnCompanies and the Boston Housing Authority have secured financing for the construction of a $62-million apartment building and $8 million in major infrastructure improvements as part of the redevelopment of the Mary Ellen McCormack public housing complex in South Boston. This marks the beginning of the first phase of an ambitious 3,300-unit mixed-income and mixed-use project.
Slated for completion in fall 2026, the first 112,000-square-foot building will provide 94 apartments for low-income families currently residing at the Mary Ellen McCormack community. In addition to housing, the project will include a new Veterans Park and other public benefits.
“This first building jumpstarts an ambitious and inspired undertaking many years in the making that will ultimately give rise to a new mixed-income and mixed-use neighborhood,” said Gilbert Winn, CEO of WinnCompanies.
Funding for the project comes from multiple sources, including a construction loan, federal Low-Income Housing Tax Credit and Energy Tax Credit equity from Bank of America, as well as a tax-exempt bridge loan and tax-exempt first mortgage loan from MassHousing.
This redevelopment signifies a major step toward enhancing affordable housing options and improving infrastructure in South Boston.
