**Third Phase of Williamstown’s Cable Mills Development Secures $23.15M in Funding**
Rockland Trust has provided $23.15 million in financing to 250 Water Street LLC, a venture sponsored by Mitchell Properties and led by Causeway Development, for the construction of River Lofts—the third phase of the Cable Mills development in Williamstown, Massachusetts.
River Lofts will consist of 54 mixed-income rental units, including 28 designated as affordable housing. The new development aims to address the growing need for accessible housing in the area while revitalizing a previously underused site along the Green River.
“The development of the River Lofts at Cable Mills represents a significant milestone for Williamstown, introducing 54 thoughtfully designed mixed-income apartments that not only revitalize a previously underutilized site along the Green River but also provide much-needed housing within walking distance of downtown,” said Dave Traggorth, principal at Causeway Development.
Additional funding for the project was provided by the Executive Office of Housing and Livable Communities, the Town of Williamstown, and Mass Housing Partnership. The National Equity Fund is serving as the tax credit syndicator.
Located at 250 Water Street, the River Lofts project also includes site improvements and landscaping enhancements that will expand the Riverwalk, further integrating the development into the natural and urban surroundings of downtown Williamstown.
