State Funds Will Help To Renovate Tribune Apartments

The Preservation of Affordable Housing, Inc. will host the Department of Housing and Community Development’s Supportive Housing Awards at the Tribune Apartments, located at 46 Irving Street on Friday, March 11.

The award ceremony will mark the achievement of a long-pursued goal of successfully leveraging multiple funding sources in order to accomplish a major renovation.

Tribune Apartments is located in downtown Framingham about a block from the Memorial Building. It is as affordable rental housing for elderly, handicapped, and disabled households. Amenities included in the 53-unit development include two community rooms, recently renovated common areas, and 9-foot ceilings in the living spaces of the apartments.

The Preservation of Affordable Housing, Inc, a nonprofit developer, purchased the Tribune Apartments in the fall of 2013 for $7.8 million. The acquisition was made possible by a $5.3 million loan from the Massachusetts Housing Investment Corp. and a $2.75 million loan from Community Economic Development Assistance Corp.

Immediately, the Preservation began planning a facility renovation.

Since 2014, The Preservation of Affordable Housing has worked closely with the Town of Framingham Community Development Department to advance their renovation plans.

Major milestones in the project's history have included a letter of support for the project from the Framingham Selectmen, in addition to $172,274 in grant funding to help offset the overall renovation costs.

On Friday, March 4, the state notified Preservation of Affordable Housing that the remaining required funding for the project had been awarded. The $14 million renovation will be the first substantial repairs since 1982. Improvements will include general refurbishment of the overall facility, renovated kitchens and bathrooms, a new roof, and accessibility upgrades.

The ceremony will be emceed by The Preservation of Affordable Housing's President and CEO Aaron Gornstein, featuring the following speakers: Lt. Gov. Karen Polito, State Senator Karen Spilka, Mass Department of Housing and Community Development's Undersecretary Chrystal Kornegay and Framingham Town Manager Robert Halpin.

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Photos courtesy of the Preservation of Affordable Housing.