Trinity Financial Update 11/30/23

Trinity Financial Transforms Historic Marriner Mill into Mixed-Income Housing Project

Trinity Financial a leader in sustainable urban development, proudly announces the launch of its groundbreaking, adaptive reuse, mixed- income housing project, Fábrica Lofts. This transformative project reflects Trinity’s commitment to creating vibrant, inclusive communities that address the diverse housing needs of Lawrence.

Housing Secretary Ed Augustus joined Trinity, business and community leaders, and residents for a ribbon cutting ceremony to celebrate the $47 million development that rehabilitated a vacant, four-story building into an 87-unit apartment community at the former Marriner Mill building.

“Projects like Fábrica Lofts drive economic activity by adding valuable historic buildings back into productive use while creating much-needed housing critical to the success of Gateway cities like Lawrence," said Massachusetts Housing and Livable Communities Secretary Ed Augustus. "Governor Healey understands that transforming communities into economic hubs requires housing that is accessible for all Massachusetts residents and is in proximity to jobs and transportation. We thank Trinity Financial and its partners at MassHousing, Red Stone Equity Partners, the city of Lawrence and TD Bank.”

Fábrica Lofts is part of a multi-phase effort to repurpose the city’s 34-acre Arlington Mills Smart Growth Overlay District into a mixed-use development and builds upon the neighboring 102-unit Arlington Point project, another historic mill building conversion that Trinity completed in 2019. This adaptive reuse approach not only preserves the historical significance of the site but also minimizes environmental impact, aligning with Trinity's dedication to sustainable development. The building has been converted into 27 one-bedroom apartments, 40 two-bedroom apartments, and 20 three-bedroom apartments. The project’s amenity spaces include a community room, a kids’ play space, and a fitness center.

Of the project’s 87 units, 17 are restricted to those earning at or below 30% of the Area Median Income (AMI), 49 units are for those earning at or below 60% of AMI, and 21 are Workforce units for those earning up to 80% of AMI. The AMI for the Lawrence area is $121,900 for a household of four.

“MassHousing was excited to be a partner in advancing this dynamic project, which created much-needed housing for families in Lawrence,” said MassHousing CEO Chrystal Kornegay. “We congratulate Trinity Financial for their work in transforming a portion of a vacant, blighted mill building into a brand-new rental community for families of all means, offering them quality housing and economic opportunity.”


Pictured: Trinity Financial Vice President, Development Dan Drazen; Secretary of Housing Ed Augustus; State Senator Pavel Payano; State Representative Frank Moran; Lawrence Mayor Brian A. De Peña; Lawrence City Councilman Gregory Del Rosario; Lawrence City Councilwoman Maria De La Cruz; MassHousing Executive Director Mark Teden; Red Stone Equity Partners Director of Acquisitions Lauren Henry; TD Bank Vice President of Commercial Real Estate Nate Bondini; Arlington Point resident Katherine Reyes; Local artist Yenny Hernandez; Local artist Daniela Gamba

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