Partnership with Pennrose will create 57 affordable and workforce apartments and 11 market-rate units in Berkshire County
LENOX, Mass. — Rockland Trust is providing a $22 million financing package to support Pennrose’s development of a new 68-unit mixed-income residential community at 238 Pittsfield Road in Lenox, a project expected to expand affordable and workforce housing options in Berkshire County.
The development comes as communities across the region face continued demand for housing that is affordable to local families and workers. The project will include a mix of one-, two- and three-bedroom apartments, with 57 designated as affordable and workforce homes and 11 offered at market rates.
Construction is already underway, with the first residents expected to move into the new community in 2028.
“Access to quality, affordable housing is essential to the strength and vitality of our communities,” said Kelly Nguyen, Senior Vice President and Commercial Banking Officer at Rockland Trust. “We are proud to partner with Pennrose on a development that will create meaningful housing opportunities for Berkshire County residents while supporting smart, sustainable growth in Lenox.”
The project represents Pennrose’s second mixed-income housing development in Lenox. It follows the recent completion of Forge, another mixed-income rental community developed by the company in the town.
Together, the two developments are expected to expand housing opportunities for local families, workers, seniors and residents experiencing housing insecurity. The projects will also contribute to Lenox’s efforts to exceed the Commonwealth’s affordable housing benchmark.
“238 Pittsfield Road builds on the progress that the Town of Lenox has made in addressing the region’s pressing needs for affordable, family-sized rental housing,” said Karmen Cheung, Regional Vice President at Pennrose. “This partnership with the Town of Lenox continues to deliver communities that give families of all sizes a place to call home.”
Cheung said the two Pennrose developments reflect the company’s long-term commitment to addressing the diverse housing needs of Berkshire County.
The 238 Pittsfield Road development is designed to serve residents with a range of housing needs while contributing to the long-term vitality of Lenox and surrounding communities. Its combination of affordable, workforce and market-rate apartments is intended to create a mixed-income residential community accessible to a broad range of households.
The project is part of Pennrose’s broader work in affordable and mixed-income housing. The company has more than 50 years of experience developing and managing conventional, affordable, mixed-income and mixed-use communities across the United States.
Pennrose develops and operates conventional, affordable, mixed-income and mixed-use communities throughout the United States. The company combines development and property management expertise to create communities designed around residents’ needs and long-term quality of life.
Independent Bank Corp. is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust operates retail branches across Eastern Massachusetts, Worcester County and Southern New Hampshire, along with commercial banking and investment management offices in Massachusetts, New Hampshire and Rhode Island.
The bank provides banking, investment and insurance services to individuals, families and businesses, as well as mobile, online and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.
