Its name is derived from its location, as it is at the corner of N. Water and Elm Streets. At a cost of $8m, the project transformed the Frederick A. Sowle Building into 19 modern apartments at market-rate, including 15 units with one bedroom and four units with two bedrooms.
Many of the architectural elements of the building built in 1884 were preserved, such as historic timber beams and exposed brick walls. The interior of the building was completely modernized and all windows were replaced. Kitchens can be found featuring stainless steel appliances, granite countertops, contemporary finishes, and new bathrooms.
A Housing Development Incentive Program application by Lafrance Hospitality enabled state funding of $2.5m for the project. Lafrance Hospitality is known for the development of restaurants and hotels but has recently entered the housing market. Elmwater Landing is its second such development in New Bedford, the other being Eighteen & Union. BayCoast Bank provided financing for the project.
Mayor Jon Mitchell noted that 19 new housing units have been made out of a previously underutilized building. He added:
“I salute the Lafrance family and their team, for another successful investment in New Bedford and expanding the housing supply for our residents.”
Flyer printing is an effective way to inform residents about such new developments and highlight their benefits and accomplishments for the city.