23 Laurel Street, Northampton, MA (20 family apartments)
In December 2022, Valley received a $650,000 grant from the Federal Home Loan Bank of Boston Affordable Housing Program. In May 2023, Valley received the major financing for this development from the State’s Executive Office of Housing and Livable Communities. General Contractor (GC) bids were received in October 2023 and revealed higher construction costs than originally budgeted. Valley selected Allegrone Construction, the low bidder, as the GC for this development.
The Northampton Community Preservation Committee is evaluating a $420,000 gap filler grant request from Valley, with a decision due in December 2023. Assuming all funds are raised, construction is scheduled to begin in April 2024 and finish in June 2025. Tenants would move in during fall 2025.
Valley will post applications for the Lottery for these apartments on its website as soon as they are available (projected fall 2024).
Above: Site Plan rendering by Berkshire Design Group
Above: Typical building renderings by Austin Design, Inc.
East Gables | Affordable Studio Apartments in Amherst, MA
More than 500 prospective tenants applied in the East Gables lottery, which was held on June 21, 2023. The chart below provides information about the applicant pool.
Construction was finished at East Gables in September 2023 and tenants began moving in during October 2023. Valley expects the building will be fully occupied by the end of November 2023.
