**WinnCompanies Secures Financing for First Phase of Public Housing Redevelopment**
WinnCompanies and the Boston Housing Authority have finalized financing for 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 ambitious 3,300-unit mixed-income and mixed-use project.
Scheduled for completion in the fall of 2026, the first 112,000-square-foot building will feature 94 apartments designated for low-income families currently residing at Mary Ellen McCormack. Additionally, the development will include a new Veterans Park and other public amenities.
“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 WinnCompanies CEO Gilbert Winn.
Funding sources for the project include 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.
