WinnCompanies has taken a big step toward acquiring and renovating The Stone Mill, built 176 years ago by the founder of Lawrence, Massachusetts, into 86 apartments serving families and individuals across a range of income levels.
The company’s development arm, WinnDevelopment, plans to begin construction early next year on the $34 million historic adaptive-reuse project, which will preserve, restore, and transform the 149,220-square-foot structure erected by the city’s namesake, Abbot Lawrence, on the edge of what is now the downtown business district.
“We believe the redevelopment of The Stone Mill is a transformational project that will be a key driver for economic development at the eastern end of the Essex Street corridor, which serves as the hub and spoke of downtown Lawrence,” said Larry Curtis, president and managing partner of WinnDevelopment. “The city of Lawrence was built around this building in the 19th century, and it will prove instrumental once again, thanks to a great partnership with city leadership and enthusiastic support from state housing officials.”
The final piece of the project’s funding puzzle fell into place this month when Gov. Charlie Baker’s administration announced that the Department of Housing and Community Development (DHCD) will support the project with federal and state low-income housing tax credits and subsidy funds as part of an effort to support the rehabilitation and production of 678 units of rental housing across Massachusetts.
“To truly address our housing crisis here in Massachusetts, we need more housing of all types across the commonwealth, and these projects—with strong local support and experienced development teams—point to meaningful progress in our strategy to address this crisis head on,” said secretary of Housing and Economic Development Mike Kennealy. “I want to congratulate the project teams and their partner communities for their collaboration on these projects that will produce more needed housing, help reinvigorate their downtowns, and support our economic recovery, especially in communities that were disproportionately impacted by the COVID-19 public health crisis.”
Sixty-nine of the apartments will be available to residents with incomes at or below 60% of the area median income (AMI), including 11 units for households earning below 30% of the AMI. The remaining 17 apartments will be rented at market rates. The completed project will include 28 two-bedroom, two-bath units and eight three-bedroom, two-bath units.
The history of the mill began in 1845 when Abbot Lawrence purchased rural farmland on the banks of the Merrimack River with the vision of harnessing water to power textile mills. The Essex Company Machine Shop—known today as The Stone Mill—was the first building erected along the canal for the purpose of manufacturing tools, mill machinery, water turbines, and millwork for the planned textile factories that would fuel America’s Industrial Revolution.
By 1853, the fast-growing community was incorporated as a city with Lawrence as its namesake. He later served as a Massachusetts congressman and as U.S. ambassador to Great Britain.
WinnDevelopment, working with its longtime design partner, The Architectural Team, will not only preserve and restore the historic features of the four-story building, but also install all-electric, high-efficiency systems that will dramatically reduce the development’s long-term carbon footprint.
At least 30% of all construction work will be performed by minority and women-owned businesses as well as skilled labor from the area, according to the WinnCompanies.
The 2.3-acre site is located less than a half mile from the Haverhill MBTA station; less than a quarter mile from the city’s Riverwalk, two public parks, and schools; about 800 feet from Lawrence General Hospital; and 150 feet from Everett Mill, a commercial building featuring more than 70 local businesses.
“Having accessible housing options in Lawrence is a necessity for our community members and their well-being. Safe and affordable housing is vital for our residents to thrive,” Lawrence mayor Kendrys Vasquez said. “I trust that WinnCompanies will take care of this piece of Lawrence history and take care of the 86 families and individuals that will be moving into these units in due time. This partnership will provide the people of Lawrence with opportunities to deepen their roots in the city that they love.”
Construction is expected to take 16 months once work begins in the first quarter of 2022. Financing sources include the DHCD, the Massachusetts Historical Commission, the U.S. National Park Service, MassHousing, city of Lawrence HOME funds, and Bank of America.
The project will be WinnDevelopment’s third adaptive-reuse development to revive a historic mill in Lawrence, following the successful transformation of two former Malden Mills buildings to create the award-winning LoftFive50 complex, which features 137 units of affordable housing.
