WinnCos Secures $69.1M Loan For 114-Unit Affordable Housing Project In Swampscott, MA

Gilbert Winn, the landlord and regional developer of The Westcott, a 114-unit affordable housing project in Swampscott, Massachusetts, has secured $69.1 million in financing for the development. Located at 125 Essex Street, The Westcott is a development site that will provide much-needed affordable housing options in the northeastern suburb of Boston.

Summary of Transaction Details

• Property Type: Development Site
• Address: 125 Essex Street
• Market: Swampscott, MA
• Units: 114
• Landlord: Gilbert Winn - WinnCos
• Loan Amount: $69,100,000

The financing was secured by Gilbert Winn, the landlord and regional developer, through a $69.1 million loan for The Westcott. This funding will support the development of the 114-unit affordable housing project, addressing the growing need for such housing options in the Swampscott area. The project aims to provide a solution to the demand for affordable housing and positively contribute to the local community.