Wilber School Apartments, Sharon, Mass.

DEVELOPERS:

Beacon Communities LLC and Frontier Enterprises, Inc.

BACKGROUND:

Originally built in 1922 and later expanded, the Wilber School first served as an elementary school and later as a high school before being abandoned in the early 1980s because of obsolescence, lead-based paint, and asbestos. It sat vacant for thirty years until this project.

TOTAL DEVELOPMENT COST:

$28.3 million

KEY FINANCING:

$15 million - Federal and state historic tax credits and Low-income housing tax credits
$14 million - Tax-exempt bonds

IMPACT:

  • Total Jobs Generated: 336
  • 75 mixed-income apartments; nearly 1/3 are reserved for households making up to 30%, 50%, or 100% of the area median income;
  • Eight units have project-based Section 8 vouchers;
  • The development is pursuing LEED Silver certification. 

“After being in such disrepair for almost 30 years, restoring the Wilber School building and returning it to useful service has finally been achieved,” said former Wilber School student and current board of selectmen chairman William A. Heitin. “This project is already positively impacting the revitalization of (our downtown) and it has also helped us take a step forward in achieving our affordable housing goals."