**MPZ and Capstone Secure Financing for Baldwinville School Apartments Redevelopment in Templeton, MA**
MPZ Development LLC and Capstone Communities LLC have officially secured financing for the redevelopment of the historic Baldwinville Elementary School in Templeton, Massachusetts. This marks the town’s first multifamily housing project approved in over 25 years.
The financing package was assembled from multiple sources, including the Massachusetts Executive Office of Housing and Livable Communities, MassHousing, Rockland Trust, National Equity Fund, the Massachusetts Historical Commission, and The Life Initiative. These funds will enable the transformation of the former school into 54 rental apartments—49 of which will be reserved as affordable housing for households earning between 30% and 60% of the Area Median Income.
Designed by ICON Architecture, the Baldwinville School Apartments will feature a new, energy-efficient building constructed to meet both Enterprise Green Communities and Passive House standards. The development will offer a variety of apartment layouts, including lofts, studios, and one- to three-bedroom units. Many of these residences will be carefully rehabilitated from the existing structure of the original elementary school, preserving its historical character.
With financing secured, development efforts will now commence, signaling a major step forward in enhancing Templeton’s housing landscape.
