Tuesday, November 3, 2015

WNC provided $12.7 million in LIHTC equity to fund Malden Mills Phase II – Loft Five50 in Lawrence, MA

Michael Gaber
BOSTON, MA – WNC, a national investor in real estate and community development initiatives, announced today the completion of Malden Mills Phase II – Loft Five50, comprised of 62 units of affordable housing in Lawrence, Mass.

WNC provided approximately $12.7 million in low-income housing tax credit (LIHTC) equity to fund the adaptive reuse project that is transforming the historic former Malden Mills manufacturing site into affordable housing.

“The redevelopment of the second phase of Malden Mills presented an excellent opportunity to preserve local history while providing a modern structure and amenities that enhance the local community and the lives of the individuals and families that reside there,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. 

“The completion has generated an overwhelming response from applicants, with more than 600 potential tenants expressing interest.”

For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172 ext. 703

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