Page 16 - BusinessWest March 17, 2025

Hagop Toghramadjian stands inside one of the almost- completed units in the Residences on Appleton.
mance Computing Center. “Because of that, they’ve been really
good partners, and that’s why Winn came to Holyoke and made
“We’ve been
this investment here — it’s because the city knew what it took to
make this kind of project happen.”
trying to promote As phase 1 continues, with leasing to commence and tenants
not only the
due to start moving in this fall, Toghramadjian and others we
talked with said that, while these 88 units will make a welcome
lower utility addition to the landscape and help spur economic development in
rates here, but
the area, they represent a drop in the bucket when it comes to the
city’s overall housing needs.
the clean energy Indeed, Garcia said a recent report put that need at roughly
that customers 1,600 units of new housing over the next 20 years across the
broad spectrum of income levels, which is another key element in
can promote with the equation because different types of housing, including market-
their products and rate and homeownership, enables residents to stay in the city as
their financial situation improves.
hopefully help “The Appleton Street project doesn’t address the magnitude of
with sales.”
the problem, but we’re chipping away at it,” said the mayor, noting
that there may be as many as 600 units already in the pipeline.
That includes phase 2 of the Appleton Street initiative, he
said, noting that WinnDevelopment is currently assembling the
required pots of money for that initiative, as well as the market-
rate units planned for Open Square and other ongoing housing
initiatives.
There are several smaller housing initiatives taking place,
said Vega, including many involving the upper floors of proper-
ties along High Street, projects that provide a few or a few dozen
units, all of which help meet growing need.
The problem, he went on, is the immense competition for lim-
ited state and federal support for such initiatives, with seemingly
every community in the Commonwealth in need of housing.
JIM LAVELLE
“All the developers are going for the same pots of money,
whether they’re in Holyoke, Springfield, Chicopee, or West Spring-
field,” he said, adding that, in this environment, having a solid
mix of projects, large and
small, in the pipeline is a
must.
Holyoke
Continued on page 38
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