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Greystar gets $3.8 million for modular redevelopment of Taunton mill site
The award will help turn the long-vacant Whittenton Mills at 437 Whittenton St. into a 390-unit apartment community.
Greystar received a $3.8 million Housing Development Incentive Program award from the Massachusetts Executive Office of Housing and Livable Communities to support the redevelopment of the long-vacant Whittenton Mills site at 437 Whittenton St. in Taunton, Massachusetts, according to ConnectCRE.
The project will convert the existing mill into a 390-unit apartment community, which the company says is expected to become the largest modular residential development in Massachusetts.
ConnectCRE reports that the HDIP is designed to help Gateway Cities such as Taunton develop market-rate housing, increase residential growth and diversity of housing stock, support economic development, and stabilize neighborhoods by encouraging new construction and significant rehabilitation.
Greystar Managing Director of Development Ryan Souls said the state incentive recognizes the redevelopment’s importance and the potential to expand housing opportunities in Taunton, while also revitalizing a historic site that has been a community pillar for generations.