LAWRENCE, MASS. — Developer WinnCos. has completed Stone Mill Lofts, a $39.2 million multifamily adaptive reuse project in Lawrence, a northern suburb of Boston. The project converted a 179-year-old structure that originally housed a stone mill into a complex with one-, two- and three-bedroom units. Of the 86 units, 11 are reserved for households earning 30 percent or less of the area median income (AMI); 58 will be reserved for renters earning up to 60 percent of AMI; and the other 17 will be rented at market rates. Amenities include a resident lounge and kitchen, billiards room, fitness center, children’s playroom, resident storage lockers, work-from-home pods, package room and a historic mill exhibit room. MassHousing provided $25.9 million in financing for the project.
Stone Mill Lofts in Lawrence, Massachusetts, is a redevelopment of a 19th century industrial building. Abbott Lawrence built the 149,220-square-foot complex between 1845 and 1848, harnessing the Merrimack River to manufacture tools, mill machinery, water turbines and millwork for the textile factories that were booming during the Industrial Revolution.
WinnCos. Completes $39.2M Multifamily Adaptive Reuse Project in Lawrence, Massachusetts
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