
Chatham Lofts | 6 Chatham St (Worcester, MA)
$10.5MM, 24-unit adaptive reuse project of the former Worcester YWCA completed in 2021 that leveraged federal and state historic tax credits and HDIP funding
Project Description
Chatham Lofts is a 24 unit market-rate apartment building in the heart of the Theatre District. The project was approved by the NPS for listing on the National Register of Historic Places and was financed using Federal and State Historic Tax Credits. The project also received state and local support through a Tax Increment Exemption (TIE) Agreement with the City of Worcester and Housing Development Investment Tax Credits through the Massachusetts Housing Development Incentive Program (HDIP) administered by the Massachusetts Department of Housing and Urban Development (DHCD). Chatham Lofts was financed through an equity investment by the MG Capital's eMpower Worcester Opportunity Zone Fund and debt provided by Webster Five and the PCI Fund.
The project secured a master lease with the Boston Red Sox for nine units upon completion
You can learn more at www.6Chatham.com.
Project Highlights
2021 Silver Hammer Award by Worcester Regional Chamber of Commerce
Project Type
Mixed-Use, Residential, Affordable Housing
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