910 Main Street Property Purchased
CDCSB has taken a major step forward in addressing the need for affordable housing in the southern Berkshires with the purchase of an eight-acre site located at 910 South Main Street, Great Barrington. Plans are underway to build 40-50 affordable apartments. The site has approximately two acres along Route 7 designated for development and is located in an area that was recently rezoned for use as a 40-R Smart Growth Overlay District (SGOD); a district that encourages high-density affordable housing. “It’s also an excellent opportunity for CDCSB to help realize the town’s priority for building affordable housing in the newly-designated 40-R district,” said CDCSB’s executive director, Tim Geller.
Acquisition financing is being provided by The Life Initiative (TLI) and Way Finders, Inc. TLI is a $100 million dollar community investment fund created in 1999 by Massachusetts-based life insurance companies that has invested over $300 million in affordable housing development, commercial properties, businesses and community facilities in the last 10 years. Way Finders is also a co-sponsor with CDCSB on the project. Way Finders, formerly HAP Housing, provides a full range of housing services as well as being a major developer and manager of high quality affordable housing throughout western Massachusetts.
Pre-development financing is being provided by the Community Economic Development Assistance Corporation (CEDAC). CEDAC is a public-private community development finance institution that provides financial resources and technical expertise for community-based and other non-profit organizations engaged in effective community development in Massachusetts. This funding enables CDCSB to advance the project into permitting in preparation for state funding applications due February 2019.

910 Main Street Property Purchased
CDCSB has taken a major step forward in addressing the need for affordable housing in the southern Berkshires with the purchase of an eight-acre site located at 910 South Main Street, Great Barrington. Plans are underway to build 40-50 affordable apartments. The site has approximately two acres along Route 7 designated for development and is located in an area that was recently rezoned for use as a 40-R Smart Growth Overlay District (SGOD); a district that encourages high-density affordable housing. “It’s also an excellent opportunity for CDCSB to help realize the town’s priority for building affordable housing in the newly-designated 40-R district,” said CDCSB’s executive director, Tim Geller.
Acquisition financing is being provided by The Life Initiative (TLI) and Way Finders, Inc. TLI is a $100 million dollar community investment fund created in 1999 by Massachusetts-based life insurance companies that has invested over $300 million in affordable housing development, commercial properties, businesses and community facilities in the last 10 years. Way Finders is also a co-sponsor with CDCSB on the project. Way Finders, formerly HAP Housing, provides a full range of housing services as well as being a major developer and manager of high quality affordable housing throughout western Massachusetts.
Pre-development financing is being provided by the Community Economic Development Assistance Corporation (CEDAC). CEDAC is a public-private community development finance institution that provides financial resources and technical expertise for community-based and other non-profit organizations engaged in effective community development in Massachusetts. This funding enables CDCSB to advance the project into permitting in preparation for state funding applications due February 2019.
