303-Unit Downtown Housing Complex to be Completed in Haverhill this Fall

According to the Newburyport News, the largest and most expensive housing development in city history is expected to have people living in it by October, Mayor James Fiorentini said. Forest City Enterprises of Cleveland is moving towards the completion of 303 1 and 2 bedroom upscale downtown apartments. The apartments are being built in old shoe factory buildings at the former Stoller building on Essex Street and the Lagasse building on Duncan Street.

The development is the 2nd in a Haverhill’s Chapter 40R Zoning “Smart Growth” district, approved by the City Council in 2007. Chapter 40R provides financial incentives to communities that help developers build affordable housing near transportation centers and existing urban infrastructure. Haverhill will receive a one-time payment from the state of $3,000 per new home built in the zone — more than $900,000 when the Forest City development is completed and fully occupied.

Read the entire Newburyport News article.