Multi Residential

$12.6M in Funding Issued for Springfield Affordable Housing

Gemini Townhomes

Springfield, MA – MassHousing announced it has closed on a total of $12.6 million in financing through the agency’s CommonWealth Builder Program, with the nonprofit Home City Development, Inc., for the development of 40 new affordable homes for moderate-income, first-time homebuyers in Springfield. The new homes will be built on a parcel of land on Morris Street that has been vacant since 2011.

“These new homes will allow first-time homebuyers to enjoy all the benefits of owning a home, including the ability to start building wealth for themselves and future generations. We commend our project partners for their substantial work making the Gemini Townhomes a reality,” said MassHousing CEO, Chrystal Kornegay.

In addition to MassHousing’s CommonWealth Builder funding, financing sources include $4.3 million in construction financing from New Valley Bank and Trust, $1 million in ARPA funds from the City of Springfield, $210,000 in Springfield Community Preservation Act funding, $400,000 from the Community Economic Development Assistance Corporation (CEDAC), and a $200,000 grant from the Massachusetts Department of Environmental Protection.

The 40 new condominiums will be constructed in 10, two-story townhouse-style buildings, and each unit will have a garage with two parking spaces, as well as access to an open-air community pavilion. The townhomes will be constructed with a highly efficient building envelope system, feature Energy Star appliances, and have all electric heating and cooling systems, eliminating the use of fossil fuels.

There will be 24 two-bedroom units and 16 three-bedroom units, of which two will be reserved for homebuyers with mobility, vision, or hearing impairments. Eight of the homes will be sold to households earning up to 80% of AMI and 32 homes will be sold to homebuyers earning up to 100% of AMI. Home sales prices are expected to range from $169,500 to $225,000.

The new homes will be adjacent to three Pioneer Valley Transit Authority bus routes and approximately one mile away from the downtown Union Bus and Train Station. Residents will also have access to green spaces, including the Connecticut River Walk and Bikeway.

The general contractor on the project is Henry General Contractors, Inc. and the architect is Architecture Environment Life, Inc.