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WinnCompanies funds $41.5M rehab for 290-unit Chicopee affordable housing
The financing renews affordability protections set to expire in 2026, and the modernization work is expected to finish in summer 2028.
WinnCompanies has closed on financing to purchase and rehabilitate Chicopee Village Townhomes, a 290-unit affordable housing community in Chicopee, western Massachusetts, ConnectCRE reports.
The deal renews the property’s affordability protections, which were due to expire in 2026, and launches a $41.5 million rehabilitation program aimed at addressing deferred maintenance across an aging stock of townhouse-style buildings.
Chicopee Village Townhomes was built in 1947 and includes 62 two-story buildings spread across a 17.6-acre site. The Massachusetts Executive Office of Housing and Livable Communities identified the property as a preservation priority in February 2025, and tapped WinnDevelopment to lead the redevelopment after it made an offer in April 2025.
ConnectCRE says the modernization effort is underway and is expected to wrap up in summer 2028, citing a statement from WinnDevelopment President Adam Stein that family housing like this is rare and valued by public and private partners.