EDFC Projects: Worcester, Massachusetts
EDFC’s strategy and approach complies with the new Governor and Lieutenant Governor’s policy directives focused on workforce housing to reverse the exodus of families and individuals, including recent college graduates, from the state. Because of EDFC’s relationships with City and State elected officials and appointed decision makers, EDFC is uniquely qualified and poised to seize this market opportunity.
The Hadley Apartments
This project entails the historic rehabilitation of the existing Hadley building and the construction of a new building on the rear of the site. Demo and abatement work started Monday, February 26, 2007.
More Hadley Information: The Hadley Project | Hadley Photos/Updates
Beacon Place
Before
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Construction Underway
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Architect’s Rendering
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These luxury housing units will offer twelve (12) one bedroom units and forty-eight (48) two bedroom units. Price range is a reasonable $172,000 to $245,000. Amenities will be consistent with luxury housing units in the Worcester, Massachusetts area.
Worcester Project Phase II
Boys & Girls Club |
Caravan Coffee Building |
The Caravan Coffee Building and Boys & Girls Club properties are contiguous to, and represent an expansion of, the Hadley and Beacon Place project (Worcester Project Phase I) already underway. In cooperation with the City of Worcester, EDFC will develop these residential units as "Workforce Housing," focusing on the market comprised of individuals and families earning 80% to 140% of median income for the Worcester area. We plan to construct 60 residential units at the Caravan site and 20 residential units within the historic Boys & Girls Club. Additionally there will be 10,000 sq ft of commercial retail space on Main Street within the Caravan Building and the Boys & Girls Club that will provide approximately 6,000 sq ft of space for community use, offices and artist space. 25% of residential units in both the Caravan and Boys & Girls will qualify as affordable (80% AMI) to maximize public equity available to the Project. EDFC is targeting construction to begin in June 2007.