Real Estate
Home›Real Estate›Industry›Greystar wins $3.8 million award to redevelop Whittent…
Greystar wins $3.8 million award to redevelop Whittenton Mills
The project at 437 Whittenton St. will convert a long-vacant mill into a 390-unit apartment community and is expected to be the largest modular residential development in Massachusetts.
Greystar has received a $3.8-million Housing Development Incentive Program, or HDIP, award from the Massachusetts Executive Office of Housing and Livable Communities to support the redevelopment of 437 Whittenton St. in Taunton, according to ConnectCRE.
The long-vacant Whittenton Mills site will be transformed into a 390-unit apartment community, which the outlet says is set to become the largest modular residential project in Massachusetts.
ConnectCRE said HDIP is designed to help Gateway Cities such as Taunton develop market-rate housing while increasing residential growth and diversity, and the program provides funding to offset costs for major rehabilitation efforts.
Ryan Souls, Greystar’s managing director of development, said the award recognizes the redevelopment’s significance and the site’s potential to expand housing opportunities in Taunton, while also highlighting the effort to revitalize a historic property that has been important to the community.