26 October 2026

Chicopee, Mass. – WinnCompanies has acquired Chicopee Village Townhomes, a 290-unit affordable housing property, in a deal that renews the community’ s expiring affordability protections and kicks off a $ 41.5 million rehabilitation to address significant deferred maintenance.

“ We’ re grateful for the opportunity to protect and improve this critical source of affordable housing for the City of Chicopee and the Commonwealth,” said WinnDevelopment president Adam Stein.

“ Family housing like this is invaluable and rare, a fact that all of our public and private partners recognized immediately.”

With existing affordability restrictions set to expire in 2026, the Massachusetts Executive Office of Housing and Livable Communities( EOHLC) identified the property in February 2025 as a preservation priority under Chapter 40T, a 2009 state law created to prevent the loss of existing affordable housing. EOHLC selected WinnDevelopment

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Connecting Greater Boston to a Brighter Future

Chicopee Village Townhomes / Photo courtesy of The Architectural Team

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20 Carematrix Drive, Suite 300, Dedham, MA Tel: 617.522.6800 www. jmbco. com as its designee to make an offer for the property and lead the redevelopment in April 2025. Financing for the acquisition and rehabilitation closed on Aug. 13, 2026, guaranteeing that the property will remain as affordable housing for 50 years.

Originally constructed in 1947, Chicopee Village Townhomes primarily serves family households with children and features 62 two-story townhouse-style buildings set within a 17.6-acre suburban neighborhood. Of the 290 apartments, there are 196 two-bedroom units and 73 three-bedroom units. Located near major interstate highways and close to mass transit, the community is half a mile from a public school and one mile from two public parks. Large employers are within walking distance, and the Boys and Girls Club of Chicopee is next door to the property.

The acquisition-rehab project is being financed as a twinned 4 % and 9 % Low-Income Housing Tax Credit( LIHTC) transaction, using tax credits allocated by EOHLC. Massachusetts Housing Partnership provided a permanent mortgage. MassHousing issued tax-exempt bonds to help finance the acquisition. Rockland Trust provided approximately $ 36 million in construction loan financing and invested $ 9.8 million in the effort. U. S. Bancorp Impact Finance, the community development and infrastructure finance division of U. S. Bank, is investing tax credit equity and providing a construction loan.

Upon completion of the rehabilitation, 30 apartments will be converted to unrestricted units, allowing existing over-income households to remain housed and avoid economic displacement. The remaining 260 apartments will be affordable to households earning up to 60 % of Area Median Income( AMI), including 16 units supported by new Massachusetts Rental Voucher Program( MRVP) vouchers for households earning up to 30 % of AMI.

The renovation work will create

15 fully accessible apartments and six units for residents with hearing or visual impairments. Currently, none of the apartments are accessible for individuals with physical, visual or auditory impairments.

The roofs, windows and siding will be replaced. Driveways and parking areas will be resurfaced and deteriorated sidewalks will be repaired. Furnaces and water heaters will also be replaced, reducing utility costs for residents with tenant-paid utilities. Energy efficiency and comfort will be improved through the installation of new windows, enhanced insulation and air sealing.

The community building, including a management office, community space and laundry facilities, will be modernized to include a new package and mail room. Connected Communities, an affiliated nonprofit of WinnCompanies, will use the space to manage supportive service programs and community events. Kitchens and bathrooms will be modernized, with affected units receiving new refrigerators, ranges, ovens and dishwashers. A new centrally located playground is planned to serve the substantial population of families with children.

No households will be displaced from the property as part of the 22-month construction effort. WinnResidential, the property management arm of WinnCompanies, will partner with HousingToHome, a professional relocation consultant based in Dedham, Mass., to coordinate temporary relocations on site.

WinnDevelopment project director Derek Hansen, is overseeing the effort. Keith Construction of Canton, Mass., is serving as general contractor. The Architectural Team of Chelsea, Mass., is the architect. VHB of Watertown, Mass., is the project’ s civil engineer. Robinson + Cole of Boston served as transaction counsel.

The rehabilitation effort is underway and is expected to be completed in the summer of 2028. www. high-profile. com