Construction is scheduled to begin to transform the former Court Square into apartments on Elm Street in Springfield.
The Springfield Redevelopment Authority (SRA) needs to complete a cleanup of hazardous materials at the site, after which the developers, Opal Real Estate of Springfield and WinnCompanies of Boston, will begin the project.
The site will have 74 apartment units, 15 of which will be workforce apartments with the reaming 59 being more upscale. The workforce apartments will be designated for those who earn 80% of the median income in the area. There will be 11,000 square feet of restaurant and retail space on the first floor and the same amount of square feet of office space on the second floor. The rear will be reserved for parking with the option to rent spaces at a nearby business.
Banner printing is often used at such sites to inform the community of such upcoming projects.
The project is expected to cost $51m. An amount of $16m has been invested by MGM Springfield. Other funding for the project is expected to come from state workforce housing funds, several housing tax credits from the federal government, and state and federal historic tax credits.
It is also expected that 120 construction jobs will be created. Transfer of the property from the SRA to the developers is expected to take place in November.
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1365 Main Street
Springfield, MA 01103
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