Trinity Financial awarded State Housing funds to convert former courthouse into housing

0
101

Worcester, MA– Trinity Financial, a community-driven, diverse real estate development firm, received Federal and State Low Income Housing Tax Credits and subsidy funds from the Department of Housing and Community Development to help fund its rehabilitation project for the former Worcester County Courthouse into 117 units of affordable, workforce, and market-rate housing.

Trinity Financial joined Lieutenant Governor Karyn Polito, Secretary Mike Kennealy, Undersecretary Janelle Chan, Senator Harriette Chandler, Representative Mary Keefe, City Councilor Candy Mero-Carlson, representing Mayor Joseph Petty and the City Council, and City Manager Edward M. Augustus to formally celebrate the award. With this funding award, Trinity expects to commence construction on the project within days.

“We are truly honored to celebrate this important project milestone and would like to convey our deepest appreciation to Lieutenant Governor Polito, Senator Chandler, Representative Keefe, and the City of Worcester,” said Trinity Financial Principal and Co-Founder Patrick Lee. “We look forward to revitalizing the Worcester County Courthouse and transforming it into much-needed mixed-income housing, as well as inspiring the city’s diverse population by creating a space that honors a local historical African American champion in cycling.”

During the ceremony, Trinity Financial also announced that the project will include the construction of a new exhibition space named the Major Taylor Exhibition Hall. Commissioned in honor of Marshall “Major” Taylor, the first African American world champion in cycling during the 19th and 20th century who helped bring attention to the sport during the industrial bicycle production boom. This new space will be on the first floor of the building and feature approximately 2,000 square feet of exhibition space of both permanent and temporary installations dedicated to telling the story of Taylor’s life and role in Worcester’s history.

“It is inspiring to see the historic Worcester Courthouse receive new life with today’s awards, and our administration is pleased to support innovative and adaptive housing projects like this that transform a property to meet the needs of cities and towns across the state,” said Lt. Governor Karyn Polito. “New, affordable rental housing provides families and residents with not only a home, but with stability in their community, and a foundation from which to thrive, and we will continue to invest in affordable, quality housing options for all.”

The Worcester County Courthouse is a prominent historical landmark in Worcester that stood vacant for a decade after the new courthouse opened in 2007 The oldest part of the courthouse, the Greek Revival building on Main Street, was built in 1843 and the addition on the Harvard Street side of the property was built in 1954.

“I want to thank Governor Baker and Lieutenant Governor Polito for their continued support of economic development in the City of Worcester and the revitalization of Lincoln Square,” said Mayor Joseph M. Petty. “The old courthouse is truly one of the most anticipated projects currently under construction in Worcester and I look forward to the great work Trinity is doing here.  With rentals being offered at five different income levels this is truly a mixed income community that will help anchor future development of north Main Street.”

“The Worcester Courthouse Apartments project is a historic rehabilitation that will transform one of the city’s architectural gems into 50 affordable rental units as well as 67 units at workforce and market rate rents,” said City Manager Edward M. Augustus, Jr. “We’re grateful for the continued support of the Baker-Polito Administration in making affordable housing a priority in Worcester and throughout the Commonwealth. We also thank our partner Trinity Financial for their help in honoring a Worcester icon through the creation of the Major Taylor Exhibition Hall.”

Trinity Management, an affiliate of Trinity Financial, will serve as the property manager for the redeveloped Old Courthouse. The Architectural Team (TAT) is the architect for both the residential building and new exhibit space. Trinity Financial took title to the property in December 2017 and expects construction to be completed and occupancy of the new building to begin during Summer 2020.