Home City Development Wins State Funding for Elias Brookings Apartments
SPRINGFIELD — Home City Development Inc. (HCDI), a Springfield-based affordable-housing development organization, was awarded resources from the Department of Housing and Community Development (DHCD) to adapt and rehabilitate the former Elias Brookings School into 42 affordable rental housing units, to be known as Elias Brookings Apartments.
The award includes $1 million in low-income housing tax credits (to generate more than $9 million in equity), $4.4 million of soft debt, and project-based rental vouchers. Other funds for the project include state and federal historic tax credits, city of Springfield HOME and Community Preservation Act funds, and construction and permanent loans. MassHousing will provide the permanent first mortgage loan and a subordinate workforce-housing loan. HCDI plans to begin construction in early 2021 and complete the work in 12 months.
The project will serve a range of incomes, including extremely low-income households, low-income households, and workforce housing. Select apartments are reserved for clients of the Department of Mental Health, people with disabilities, and homeless households. HCDI will offer a variety of supportive services to all residents. The property will be managed by Housing Management Resources, an organization with extensive experience managing comparable properties.
Built as the Elias Brookings School in 1925, the building was severely damaged in the June 2011 tornado and was closed. This redevelopment aims to contribute significantly to the revitalization of the of the Maple Hill, Six Corners, and Old Hill neighborhoods, which were heavily impacted by the tornado.
HCDI is working with Davis Square Architects, development consultant Gerry Joseph, Allegrone Construction, Klein-Hornig LLP, and Shatz, Schwartz, and Fentin, P.C., as well as many other partners on this project.
Home City Development Inc. is a nonprofit, resident-centered developer of multi-family and mixed-use properties in Western Mass. HCDI was founded as Better Homes Inc. in 1968 by the Springfield Chamber of Commerce. Over more than 50 years, HCDI has worked to facilitate community stability and growth in collaboration with numerous partners and residents.