1. Holyoke, Boston developer continue pursuit of historic tax credits for Farr Alpaca Mill conversion to rental units

    Holyoke, Boston developer continue pursuit of historic tax credits for Farr Alpaca Mill conversion to rental units

    The city and WinnDevelopment continue to pursue historic tax credits and other incentives to convert the former Farr Alpaca Mill at 216 Appleton St., into 100 rental units. Winn and the Holyoke Redevelopment Authority entered into an agreement on the property. The former mill is situated between the Upper Canal and the Holyoke Police Department. WinnDevelopment, of Boston, plans to offer market and income-rate apartments. The company has regularly undertaken similar projects nationwide, including the Ludlow Mills and Residences at Mill 10, a 55-plus community in Ludlow.

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    1. We are pending notification of the current round awards, but we expect it will take several rounds to amass the total amount of awards we're seeking.
    2. We're very careful in what we choose to pursue. This particular property is very attractive.
    3. The property will remain under the agreement until we amass the financial mechanisms we need to close the purchase.
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