Trinity Financial Receives $17.1M in Financing for Affordable Housing Project in Lawrence, Massachusetts
LAWRENCE, MASS. — An affiliate of Trinity Financial has received $17.1 million in financing for the development of an affordable housing community in Lawrence. MassHousing has provided a $14 million conduit bridge loan, $1.2 million in permanent financing and $1.9 million in workforce housing funds for the project. Trinity Financial will transform the former Van Brodie Mill into a 102-unit mixed-income housing community. Designed by ICON Architecture, the property will contain eight studio apartments, 25 one-bedroom apartments, 56 two-bedroom apartments and 13 three-bedroom apartments. Aberthaw Construction is the contractor and Trinity Management will manage the completed property. The adaptive reuse project will preserve the historic former mill, while remediating a brownfield site. Constructed in 1919 by the Arlington Mills company, the Van Brodie Mill originally manufactured yarn for wool and flannel. By the 1950s, the Arlington Mills company has closed and the Van Brodie Mill was operated by a company that shifted production to food products, including packaged breakfast cereals and rations for the military.