Apartments in Worcester to undergo major transformation
The Worcester Housing Authority (WHA) has announced that the Lakeside Apartments will be demolished and reconstructed as part of a new redevelopment project.
The Lakeside Apartments are near the recreational area of Coes Pond and located off Park Avenue. A partnership with E3 Development and Boston Capital is making this project possible.
When completed, the project will have 374 units, of which 248 will be for residents who earn 30 percent of the median income in the area and 57 of which will be for those who earn 60% of the median income in the area. There will also be 44 units for those buying a home for the first time so that these people will have the opportunity to own their own property. There will be 25 units at market and workforce rates.
News about such projects and their benefit for the community can be disseminated through flyer printing and other printed materials.
The Resident Assistance Demonstration program is enabling the WHA to leverage subsidies and rents guaranteed in the future to secure the loans needed to make the project possible. Multiple sources at the local, state, and federal level will provide the funding.
Eliza Datta, founder of E3 Development, expressed excitement about the opportunity to work with the WHA to transform the Lakeside Apartments, which will modernize the development and increase their affordability.
The Lakeside Apartments are near the recreational area of Coes Pond and located off Park Avenue. A partnership with E3 Development and Boston Capital is making this project possible.
When completed, the project will have 374 units, of which 248 will be for residents who earn 30 percent of the median income in the area and 57 of which will be for those who earn 60% of the median income in the area. There will also be 44 units for those buying a home for the first time so that these people will have the opportunity to own their own property. There will be 25 units at market and workforce rates.
News about such projects and their benefit for the community can be disseminated through flyer printing and other printed materials.
The Resident Assistance Demonstration program is enabling the WHA to leverage subsidies and rents guaranteed in the future to secure the loans needed to make the project possible. Multiple sources at the local, state, and federal level will provide the funding.
Eliza Datta, founder of E3 Development, expressed excitement about the opportunity to work with the WHA to transform the Lakeside Apartments, which will modernize the development and increase their affordability.