At a glance
- Maura Healey cut the ribbon Wednesday on The Residences on Lincoln Square, an 80-unit apartment project for adults 55 and older in Worcester that cost $51 million, Connect CRE reported.
- The development is split between two buildings.
- For an allocator, three terms set the rent roll on restricted housing: the length of the income restrictions, the subsidy behind the 12 units at 30% AMI and who owns the limited-partner interest.
WinnCompanies and Massachusetts Gov. Maura Healey cut the ribbon Wednesday on The Residences on Lincoln Square, an 80-unit apartment project for adults 55 and older in Worcester that cost $51 million, Connect CRE reported.
The development is split between two buildings. The historic Worcester Boys Club building holds 16 apartment homes plus community space; a five-story building erected next door holds 64. Sixty-eight apartments are leased to households earning up to 60% of area median income and 12 are occupied by households earning up to 30% AMI. Eleven of the 80, about 14%, serve residents with disabilities, and the community was fully leased at the ribbon cutting.
For an allocator, three terms set the rent roll on restricted housing: the length of the income restrictions, the subsidy behind the 12 units at 30% AMI and who owns the limited-partner interest. Connect CRE's report does not identify the lender, the equity investor or the subsidy programs.
WinnCompanies CEO Gilbert Winn said reviving the building "has been a city priority for two decades," and credited "an innovative development plan and the fantastic support of our public and private partners." At $51 million for 80 apartment homes, the project cost about $637,500 a unit.
Reported by the Real Estate desk from Connect CRE. Published . Updated Oct 25, 2026 · 3:10 a.m. ET. Corrections