WinnDevelopment has announced plans to revitalize the historic Worcester Boys Club building and property, transforming it into 80 affordable apartment homes for adults aged 55 and older. This ambitious project will involve both preserving and renovating the 93-year-old Boys Club building, as well as constructing a new five-story apartment complex to offer a diverse range of affordable housing options.
Funding for this endeavor will be provided by various sources, including the Low-Income Housing Tax Credit (LIHTC) program, MassDevelopment’s Underutilized Property Program, and federal/state Historic Tax Credits. The total cost of construction is estimated at $52 million with financing expected to close in early 2024.
This exciting development marks an important step towards providing much-needed affordable housing in Worcester without compromising on historical preservation. Stay tuned for updates on this landmark project!
