Ropewalk Apartments Update 12/28/18
Ropewalk Apartments Financed for $38.52 Million
The development in Charlestown at 317 Fifth Street has been financed via East Boston Savings Bank, The Life Initiative, and Massachusetts Historic Rehabilitation Tax Credit Program for $38.52 million.
The redevelopment of the former ropewalk factory located in the Charlestown Navy Yard will transform into 97 townhouse-style apartment residences including studios, one-bedrooms, and two-bedrooms. The granite facade of the factory building, which is over 1,300 feet long and has been vacant since 1971, will be fully restored. 20% of residences at Ropewalk Apartments will be designated affordable.