Trinity Financial

Construction Ongoing for Worcester Courthouse Redevelopment Construction is fast progressing on the redevelopment of the former Worcester County Courthouse with framing going up and MEPs being roughed in. The courthouse, which was originally built in 1843, is being converted into 114 mixed-income apartments, ranging in size from studios through 3-bedrooms. Amenities will include a resident club room, a fitness center, gallery and workspaces for artists and programming space. Photos: Tocci Building Corporation

Wood Framing Going Up for Orient Heights Phase II Wood framing is in progress for the second phase of the Orient Heights redevelopment project. All existing buildings, dating back to 1951, will be demolished and replaced with new townhouse and mid-rise buildings. The new buildings will contain a total of 331 public housing units ranging in size from one to five bedrooms. This phase will include two new townhomes and one midrise building, totaling 88 units.

Boston East Refinanced for $55 Million The property at 126 Border Street has been refinanced for $55 million via TD Bank. Boston East is a six-story mixed-use development on the East Boston Waterfront. Boston East features 200 residential apartments and public waterfront amenities including a Harborwalk, art galleries, historic interpretive exhibits, available kayaks and paddleboards and a boat launch.

Tocci Selected as Builder for Worcester Courthouse Redevelopment Tocci Building Corporation has been named Construction Manager for the historic restoration of the former Worcester County Courthouse in Worcester, MA. Tocci is joining Trinity Financial and The Architectural Team, Inc. (TAT) to deliver this multi-family, residential, preservation, and adaptive reuse effort. The 202,000 square-foot building will be converted into 117 market-rate and affordable apartment units.  The amenities will premier a museum dedicated to “American bicycle racer Marshall Walter "Major" Taylor (1878-1932), the world’s first African-American sports-superstar, who became known as “the Worcester Whirlwind” after his adopted hometown.” (Major Taylor Association, Inc.)  Additionally, the historic courtrooms in both the majestic 1800s building and 1955 mid-century modern Annex will be restored to their previous grandeur and used for apartments and amenity space. The courthouse has been vacant since 2007 awaiting this transformation. Cooperation between the City of Worcester and Trinity Financial has been impressive, as the City helped the development process with their abatement and building stabilization efforts.  The construction team is excited about bringing an A+ work/live/play environment to this vibrant city with the support of local, minority and female labor. All in all, this project is a powerful example of Public-Private partnership. This pivotal urban site is ideally nestled between Main Street, Highland St., Harvard St., Court St. and in close walking distance to Downtown Worcester and the campus of Worcester Polytechnic Institute.  The historic restoration scope of work includes masonry restoration on the exterior façade as well as historic plaster restoration, millwork restoration, and window replication. The grounds surrounding the Courthouse will be restored and will feature tenant gathering spaces, green-life, trees, and re-imagined parking. The interior space will be transformed as three enormous courtyards (one is 74’ x 20’) spanning multiple floor levels, will bring natural light throughout the interior of the building and to adjacent apartments. “It is an honor to work on a project of this scale, imagination and potential civic impact.  The City has rightfully long-awaited the right team to take on the challenge of transforming a gorgeous and iconic building in the heart of their city. Trinity Financial, TAT, and Tocci is that right team.  This promises to be another key piece in the on-going transformation of the City of Worcester. Tocci is proud to be a part of this effort.” -- Valentino Tocci

Trinity Financial Secures $54.45 Million in Financing for Courthouse Redevelopment Trinity Financial has secured $54,452,500 in financing via Mass Housing and New Garden Park, Inc. for the redevelopment project at 2 Main Street in Worcester. The redeveloped courthouse will feature apartments ranging from studios to three-bedrooms, with amenities including a resident club room, a fitness center, gallery and work spaces for artists and programming space. Half of the residences will be offered at market rates, and half will be designated affordable.

Demo Wrapping Up for Phase II of the Orient Heights Redevelopment Demo of four existing buildings within the Orient Heights Development is wrapping up to make way for two new townhomes and one midrise building. The new buildings will include a total of 88 state public housing units. This is the second phase of the master plan to redevelop the 331 units of affordable housing located at the existing Orient Heights development in East Boston.    

Construction Set to Begin Next Month on Worcester Courthouse Redevelopment After sitting vacant for more than 10 years, Trinity Financial tells BLDUP they expect to begin construction on the redevelopment of the Worcester County Courthouse sometime in March. The historic building, originally built in 1843 was purchased by Trinity in December 2017 and will be converted to 117 mixed-income apartments. Resident amenities within the building are set to include a clubroom, fitness center, and gallery workspace. The project has already received two rounds of historic tax credits worth $800,000 each and is awaiting an additional grant from the state Department of Housing and Community Development. Once underway, construction is set to last around 16 months with occupancy expected in Summer 2020.

$26M in Construction Financing Secured for Phase II of Orient Heights Redevelopment Citizens Bank announced today that its Community Development Group has provided $26 million in construction financing to Trinity Orient Heights Phase Two LP for the demolition of four existing buildings and replacement of 88 state public housing units, through the new construction of two townhomes and one midrise building. This effort, led by the Boston Housing Authority, East Boston CDC and Trinity Financial, is the second phase of a master plan to redevelop the 331 units of affordable housing located at the existing Orient Heights development in East Boston. Nine of the units in phase two will be leased to tenants at or below 30 percent Area Median Income (AMI) and the remaining 79 units will be reserved for tenants at or below 60 percent AMI. All of the units will receive either state or federal housing subsidies.   “We greatly value our partnership with Citizens Bank and appreciate the Community Development Group’s market knowledge and excellent execution,” said Eva Erlich, vice president of development, Trinity Financial. “We look forward to continuing to work with the Citizens team as the construction of this second phase progresses.”   

CO Issued for First 4 Floors of The Treadmark in Dorchester A Certificate of Occupancy has been issued for floors 1-4 of the Treadmark in Dorchester. This certificate covers 51 of the 83 residential units. This project also includes around 5,000 sq. ft. of ground floor retail and parking for 30 cars. Completion of the project is a long time coming after a notorious fire destroyed the under-construction building in summer 2017.  

Building Permit Issued for Phase Two of Orient Heights Redevelopment Building permits have been issued for Phase Two of the Orient Heights Redevelopment in East Boston. The two new permits are for an 8 unit townhouse and 4-story, 72 unit building along Vallar Street.  In total, the project will be a complete overhaul of the l of the 15-acre, 331-unit public housing development, which originally opened in 1951.  Phase One of the project was completed this past summer.  

Interior Finishing Underway at Treadmark 2.0 in Dorchester Interior finishing is underway for the 83 residential units coming to Dorchester Avenue across from Ashmont Station. Treadmark 2.0 is expected to open in November 2018 after a fire destroyed the project last summer prior to initial opening. Of the 83 units, 51 are designated as affordable rentals and 32 will be condos. The ground floor of the project will include a 5,000 sf commercial space to feature specialty food market, American Provisions. 

Mass Pike Towers Refinanced for $33.679 Million Trinity Financial has refinanced their property at 336 Tremont Street, also known as the Mass Pike Towers, for 33.679 million via Red Capital Group. In total, the six buildings comprise more than 200,000 square feet of space and 200 units of housing. There are 42 one-bedroom apartments, 142 two-bedroom apartments, and 16 three-bedroom apartments. The property includes a playground for the children and an outdoor parking center for 98 vehicles.