Eagle Mill Awarded Low-income Housing Tax Credits
LEE, Mass. — The Healey-Driscoll Administration announced $182 million in low-income housing tax credits and subsidies to 21 rental housing developments that will create or preserve 1,245 homes across Massachusetts.
This includes the Eagle Mill.
Currently in phase II, the new construction project adjacent to Eagle Mill Phase I is a mill conversion project now underway in Lee.
The sponsor of both phases is a partnership between Hearthway and Jon Rudzinski of Rees-Larkin. When completed, Eagle Mill Phase II will offer 44 total units. Twenty-four units will be reserved for families earning less than 60 percent of AMI, with eight units further restricted for families earning less than 30 percent of AMI and, in some cases, transitioning from homelessness.
In total, the administration has supported the creation of 6,071 affordable rental units since Governor Maura Healey took office in January 2023.
These awards were made possible in part through the Affordable Homes Act and by Governor Healey's tax cuts package, which raised the Low-Income Housing Tax Credit to $60 million annually, a $20 million increase that allows the state to support more affordable housing production.
"Our administration is working on all fronts to build more reasonably-priced housing and lower costs for everyone," said Governor Healey. "These awards are creating thousands of apartments that people can actually afford. This is helping seniors age independently and close to their families and helping workers afford to live in the communities where their jobs are. Congratulations to the municipalities and developers who are receiving these well-deserved awards today."
These investments will leverage nearly $450 million in private equity, supporting urgently needed affordable housing in urban, suburban and rural communities.
