Rockland Trust has provided $23.15 million in financing to 250 Water Street LLC, sponsored by Mitchell Properties and led by Causeway Development, for the construction of River Lofts, the third phase of the Cable Mills development in Williamstown, MA. River Lofts will feature 54 mixed-income rental units, including 28 affordable units.
“The development of the River Lofts at Cable Mills represents a significant milestone for Williamstown, introducing 54 thoughtfully designed mixed-income apartments that not only revitalize a previously underutilized site along the Green River but also provide much-needed housing within walking distance of downtown,” said Dave Traggorth, principal at Causeway Development.
Additional project funding was provided by the Executive Office of Housing and Livable Communities, the Town of Williamstown and Mass Housing Partnership. National Equity Fund is the tax credit syndicator. Located at 250 Water St., the project will also feature site improvements and landscaping enhancements that expand the Riverwalk.
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