Boston— WinnDevelopment announced that it has acquired a 97-unit mixed-income senior housing community in Somerville, Massachusetts, from the Visiting Nurse Association of Eastern Massachusetts (VNA), a transaction that increases the property’s affordability and marks the start of a $17.3 million renovation.
The property, located just east of Davis Square, will be renamed The Somerhill and converted into an all-electric community expected to use at least 40 percent less energy. Planned upgrades include replacement of the entire building envelope, new insulation, and installation of heat pump technology. The building will also be made solar-ready.
Built in 1999, the three-story, 92,000-square-foot property offers one-bedroom apartments for residents age 55 and older and is located near the Somerville Community Path and a light rail hub.
Renovation work will include full interior upgrades to all units, including new kitchens, bathrooms, flooring, and paint, as well as renovations to common areas and the creation of new amenities such as a salon, art room, and fitness center. Site improvements are also planned.
As part of the acquisition, the affordability mix at The Somerhill has been restructured. Market-rate units have been reduced from 24 to 19, while units affordable at 60 percent of Area Median Income (AMI) have increased from 24 to 29. In addition, 20 units previously restricted at 40 and 50 percent AMI are now restricted at 30 percent AMI.
The project is supported by a combination of state, city, and private financing. The Massachusetts Executive Office of Housing & Livable Communities provided Low Income Housing Tax Credits and loans through multiple housing and climate programs. MassHousing is providing a permanent mortgage and bridge loan, and the City of Somerville contributed a $2 million loan from its Affordable Housing Trust Fund. Citizens is serving as construction lender and equity investor, with Boston Financial acting as tax credit investor. Additional financing is being provided by CEDAC and BlueHub Capital.
Energy-related funding includes support from the Massachusetts Department of Energy Resources’ Affordable Housing Decarbonization Grant Program and rebates through MassSave’s Low-Income Energy Affordability Network.
The VNA will continue to offer optional supportive services to residents following the renovation. The project is being overseen by WinnDevelopment Senior Project Director Hagop Toghramadjian and is expected to be completed in early 2027. The Congress Companies of Danvers, Massachusetts, is serving as general contractor, with Khalsa Design Inc. of Somerville as architect.
