**Third Phase of Williamstown’s Cable Mills Development Lands $23.15M in Financing**
Rockland Trust has provided $23.15 million in financing to 250 Water Street LLC, a project sponsored by Mitchell Properties and led by Causeway Development, for the development of River Lofts — the third phase of the Cable Mills project in Williamstown, Massachusetts.
River Lofts will introduce 54 mixed-income rental units to the market, including 28 designated as affordable housing. The project aims to transform a previously underutilized site along the Green River and lies within walking distance of downtown Williamstown.
“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 financing and support for the project have come from the Executive Office of Housing and Livable Communities, the Town of Williamstown, and the Massachusetts Housing Partnership. The National Equity Fund is serving as the tax credit syndicator.
Located at 250 Water Street, the upcoming development will also feature site enhancements and landscape improvements designed to extend and enhance the existing Riverwalk.
