WORCESTER – The Office of Governor Maura Healey announced $158 million in low-income housing tax credit and subsidies for 14 affordable housing projects in Massachusetts on Thursday, February 13, including $22.5 million for the Lakeside Apartments project.
The redevelopment of Lakeside Apartments, at 30 Lakeside Ave. in Worcester, will transform the property from 202 units to 350, including 10 affordable homeownership units. Tremont Development Partners and E3 Development lead the project. The Worcester Housing Authority (WHA) will continue to manage the properties, as it does now.
Along with the $22.5 million in state tax credits, the project also received $40 million in federal tax credits. The estimated cost of the first phase of the project is $77 million…