High-Profile: March 2026 | Page 28

28 March 2026

Multi-Residential

Winn Completes $ 35M Mixed-Income, Passive House Property in Shrewsbury

The Elmwood / Photos courtesy of WinnCompanies
Shrewsbury, MA – WinnCompanies announced completion of The Elmwood, a 93-unit, mixed-income housing development in Shrewsbury. The $ 35.2 million new construction project delivered a combination of low-income, affordable, workforce and market-rate apartments in two energy-efficient, 3-story buildings on a vacant nine-acre parcel.
“ The Elmwood reached full occupancy very quickly, providing clear evidence of the strong demand for apartment options across the income spectrum in this region,” said WinnDevelopment president, Adam Stein.“ We’ re pleased to deliver a community that not only supports the economic strength of greater Worcester but also aligns with public policy goals for the production of quality, energy-efficient mixed-income housing.”
Featuring one 63-unit building and one
30-unit building, The Elmwood offers 13 low-income apartments available to households earning up to 30 % of Area Median Income( AMI), 43 units for households earning up to 60 % of AMI, 21 units at up to 110 % of AMI, and 16 market rate units. It includes three studios, 44 one-bedroom apartments, 36 two-bedroom units and 10 three-bedroom units.
Designed and built to achieve low energy use and reduced carbon intensity, The Elmwood is certified as a Passive House community featuring highefficiency electric HVAC systems and a 150 KW rooftop solar array. There are eight electric vehicle charging stations among the property’ s 161 parking spaces.
Set on a hill overlooking preserved streams and woodlands, The Elmwood features an outdoor family area with
The Elmwood – apartment unit
grills, a Great Lawn for resident activities, outdoor fireplaces, a playground, and a dog park. The property also includes a lounge with community kitchen, workfrom-home spaces, a conference room, a fitness center, package room, and onsite management office.
Financing for the project came from the Massachusetts Executive Office
of Housing and Livable Communities( EOHLC), which allocated state and federal Low-Income Housing Tax Credits, as well as subordinate loans. MassHousing provided permanent financing, tax credit bridge loan financing and loans from the agency’ s Workforce Housing Initiative. Bank of America provided tax credit equity and construction financing. The Community Economic Development Corporation( CEDAC) also helped finance the project.
Senior Project Director Hagop Toghramadjian oversaw the effort for WinnDevelopment. WinnResidential, the property management arm of WinnCompanies, provides day-to-day operations for the community. Dellbrook- JKS served as the general contractor for the 18-month construction effort. Cube 3 served as architect.

Arrowpoint Properties Closes on 85-Unit Multifamily Community in Bedford

Bedford, NH— Arrowpoint Properties announced the closing of The Meridian, an 85-unit apartment community located at 66 Hawthorne Drive in Bedford.
The Meridian is a 3-story, wood-frame residential property situated on 6.4 acres at the intersection of Hawthorne Drive and
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South River Road. Originally developed in 2007, the community underwent a full renovation in 2024.
Amenities at the 81,474sf property include a fitness center, community and recreation rooms, pet spa, library, on-site laundry facilities, high-speed
The Meridian
internet, carport concierge, and on-site management and maintenance. The Meridian also offers 119 parking spaces and is equipped with two elevators.
“ This acquisition aligns with our strategy of investing in well-located, highquality multifamily communities that offer long-term value for both residents and investors,” said David Lamattina, president and CEO of Arrowpoint Properties.“ The Meridian’ s recent renovation, strong amenity offering, and prime Bedford location make it an excellent addition to our growing portfolio.”