Worcester’s onetime Fallon Health headquarters is about to trade cubicles for couches. Developer Synergy has locked in roughly $51.17 million in financing to turn the downtown office tower into 198 market-rate apartments, a deal now being billed as the largest office-to-residential conversion in Massachusetts. The long-awaited cash infusion removes a major funding roadblock for new downtown housing and could reshape a prominent block of the city’s central business district.
Financing package and partners
MassDevelopment teamed up with primary lender The Washington Trust Company on a $51,170,000 financing package for OCP Worcester Owner LLC. Washington Trust is providing about $47.57 million, while MassDevelopment is kicking in a $3.6 million Housing…..