WinnCo Completes $18.7 Million Affordable Housing Rehab

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LYNN–WinnCompanies, a multifamily development and management company, has completed a $18.7 million rehabilitation of the Cobbet Hill apartments in Lynn, MA, significantly renovating 117 units of affordable housing for families and seniors, creating new common areas and amenity spaces, and modernizing the building’s key systems.

Lynn Mayor Thomas M. McGee joined company executives today to view the results of the 18-month project, which upgraded the kitchens and bathrooms in every apartment; installed new boilers and a new security system; created six new handicapped accessible apartments, a new community room and a fitness center; replaced the building’s roof; repaired plumbing and masonry; and, upgraded the electrical system.

“Cobbet Hill is an example of our commitment as a long-term owner to invest in the quality of life for residents of our affordable housing communities,” said WinnCompanies CEO Gilbert Winn.

Since July 2014, WinnCompanies has overseen the completion of more than 17 occupied rehabilitation projects – totaling approximately 3,000 units – at its owned properties in six states and the District of Columbia, with total development costs of $335 million. The company currently has more than 360 units under rehabilitation in two states, at a cost of more than $52 million, with an additional 289 units set to undergo upgrades through 2020.