About Mary D. Stone Elementary School Redevelopment
10 Church Street, Auburn, MA
Redevelopment of former elementary school to offer 55-units for seniors, including 44 affordable-units for seniors with incomes below 60% of area median income (AMI). Six of the affordable units will be further restricted for seniors earnin......Free
Western MA Senior Housing Project Gets $14.284M in Financing
Penrose Holdings has closed on two mortgages for the Mary D. Stone Redevelopment in Auburn, a state Tax Credits Loan of $6,384,000.00 through Bluehub Loan Fund & a $7.9M mortgage through Citizens Bank. The approved project would convert the former elementary school to 12 apartments plus add a new 4-story building with 43 units. All units will be reserved for seniors, with 45 being designated affordable.
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