The 75-unit, loft-style apartment complex at Mason Square in Springfield is slated to begin sometime next year and take a year to complete, according to the developer.
SPRINGFIELD – The developer of a proposed $25 million apartment complex at Mason Square said Friday the project will promote historic preservation, neighborhood revitalization and the creation of decent, safe housing.
Gordon Pulsifer, president of First Resource Development Co., said the firm is prepared to begin renovations next year to develop a 75-unit apartment complex at the former Mason Square fire station and the vacant Indian Motocycle B building on State Street. The project, when begun, will take approximately a year to complete and will have loft-style, two-bedroom units, he said.
The buildings are in the Winchester Square Historic District, and all renovations will be done in accordance with historic preservation guidelines and with needed local and state historic approvals, Pulsifer said. The fire station has been closed for 25 years and has been suggested for uses ranging from a neighborhood library to a combination cyber cafe and college radio stationl.
First Resource, of Norwell, has a goal and a mantra, in bringing housing projects to urban areas to go into neighborhoods, help with revitalization efforts, and assist with providing improved housing opportunities, Pulsifer said..
“It’s all about lifting neighborhoods and people feeling better about where they live,” Pulsifer said. “I think it will do well.”
Gordon Pulsifer
Both Mayor Domenic J. Sarno and Brian Connors, deputy director of planning and economic development, praised the project Friday..
Both buildings “have great historic importance to Springfield,” Connors said.
“We are looking forward to them both being preserved, redeveloped, and added to the tax rolls,” Connors said.
The development team is finalizing the purchase of the city-owned, long-vacant properties from the city for a total of $10,000, as approved by the City Council last year, The project will be afforded through private financing, historic tax credits, and low-income housing tax credits, Pulsifer said.
First Resource has brought various other housing projects to Springfield, including the Outing Park Apartments in the third of three phases. The $75 million Outing Park project will total more than 300 units in 23 buildings when completed.
On the Mason Square project, First Resource is working with American International College in creating the new housing. The college was chosen by the city as the “preferred developer” for the site more than four years ago, and announced the partnership with First Resource in January of 2013.
The buildings cover a triangular tract at the intersection of State and Wilbraham Road.
The goal is to ‘restore it to its original beauty,” and to add security, cameras and on-site management, Pulsifer said.
The complex will have mixed-income housing, with the majority of the units rented at market rates, but some will be low-income units, Pulsifer said.
First Resource also owns the 139-unit Indian Motocycle A property, that is fully occupied. It is seeking to purchase a commercial lot on State Street from the city to provide additional parking.
Sarno said First Resource has a very good track record of constructing quality affordable housing with a focus on making them secure.
The project at Mason Square continues a resurgence of the State Street corridor, Sarno said.
Connors said the development is a “key project” in the State Street redevelopment effort,
A closing date on the sale is being finalized and will be soon, Pulsifer and Connors said.