A century-old industrial building that has stood vacant for more than a decade in Worcester’s Main South neighborhood is being transformed into 58 apartments, part of a growing effort to turn the city’s former manufacturing properties into housing.
MassDevelopment provided a $1.8 million bridge loan to Beacon Street Lofts LLC, an affiliate of Bluestone Residential, to help finance the redevelopment of the four-story building at 98 Beacon St. The project, undertaken by Bluestone Residential in partnership with Civico Development LLC, converts the former industrial property into a mix of market-rate studio and one-bedroom apartments.
Construction is underway, with completion expected within two years, according to MassDevelopment…