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LEE â The Eagle Mill developer has landed an eight-figure sum in state financing that likely will jump-start the reuse of the former papermaking factory by yearâs end.
The Massachusetts Department of Housing and Community Development has awarded Eagle Mill Redevelopment LLC $16 million in housing tax credits to finance the construction of 56 affordable and market-rate housing units in the historic Union Mill and Eagle Mill buildings.
In all, the mixed-use project will have 122 apartments; the other 66 will be located in newly constructed buildings in the eastern portion of the downtown property. In addition, six condominiums will be built on-site along the Housatonic River.