NEW MARLBOROUGH, Mass – Construct, a nonprofit provider of affordable housing and support services in the Southern Berkshires, has received over $2 million in funding from Federal Home Loan Bank Boston's (FHLB) Affordable Housing Competitive Funding Program, in partnership with Greylock Federal Credit Union.

 

This award is a step toward providing New Marlborough with its first affordable housing units. The money will help Construct create 11 new apartments at Cassilis Farm, a Gilded Age estate set on eight acres. Two additional single-family houses on the property will be funded privately, providing more immediate homes for New Marlborough's essential workers.

 

FHL Banks Boston's Affordable Housing Program (AHP) supports the development and rehabilitation of stable and affordable rental and for-sale properties in New England. Grants and loans help pay construction, acquisition, and rehabilitation costs. The $2 million awarded to Construct consists of a $1.2M subsidized mortgage and a $850,000 grant. Partnering with Construct, Greylock Federal Credit Union will hold its construction loan, which will become a permanent subsidized mortgage at the end of the project's construction phase.

 

"At Greylock, we recognize and understand that affordable housing is essential to maintaining a strong and vital community," Michael Barbieri, Greylock Federal Credit Union's vice president and manager of business banking said. "This project will help to ensure that members of our local workforce in New Marlborough will be able to live in the community where they invest their time, talent, and energy each day."

 

In 2020, New Marlborough's Affordable Housing Committee released a report stating that the town has no affordable housing and businesses are struggling to keep their doors open due to severe staff shortages. In 2022, with the housing crisis at an all-time high in southern Berkshire County, Construct purchased Cassilis Farm with the generous financial support of friends, neighbors, and New Marlborough ARPA funds. When construction is complete, Construct will have created a total of thirteen new units of 1-3 bedroom affordable housing, expanding New Marlborough's community base, promoting economic stability, and contributing to a future of growth and development. Full occupancy at Cassilis Farm is anticipated in early 2026.

 

"Receiving this funding in partnership with Greylock Federal Credit Union is a positive step forward," Jane Ralph, Construct's Executive Director said. "It is gratifying to see our shared vision of affordable housing in New Marlborough gain momentum in this way. It's a long and complicated process, and this vote of confidence and support means so much."