Winchester Partners, a venture between Twining Properties and LMXD has announced that they have begun construction on Winchester Green at 315 Winchester Avenue in New Haven‘s Science Park. This exciting project involves developing two towers locatedon Winchester Green. With an estimated cost of $90 million the primary objective is to transform a parking lot into a community space that offers a mix of residential and commercial opportunities. The anticipated completion date, for this project is 2026.
Funding for Winchester Green has been primarily facilitated by the Urban Investment Group, a division within Goldman Sachs Asset Management. They have acted as the investment partner and tax credit investor. KeyBank has provided the debt while the New Haven Housing Authority has supported with a tax loan. Moreover an affiliate of Winchester Partners successfully obtained a $5 million Urban Act Grant, from the State of Connecticut Department of Economic and Community Development to improve infrastructure.
Winchester Green Apartments Count
The Winchester Green project at  315 Winchester Avenue in New Haven‘s Science Park aims to create 283 apartments that cater to a mix of income levels. Out of these 57 units will be specifically set aside for households, with an income of around 50 per cent of the area median income. The development also includes plans for 12,800 feet of retail space and 3,190 square feet for community facilities managed by Catholic Charities of Brooklyn and Queens. Additionally there will be an, on site healthcare center overseen by One Brooklyn Health System and provision has been made for the involvement of the Precinct Community Clergy Council.
“We’re really excited about the potential for Science Park to become an even bigger part of Cambridge’s economy and community,” said Michael Piscitelli, the deputy mayor who oversees economic development. “Winchester Partners has come up with a great plan to add housing, shops, and office space while keeping the area’s unique character. My team of city planners, inspectors, and housing specialists are ready to work closely with them to make sure construction of Winchester Green goes smoothly and we create a vibrant, inclusive new neighborhood.”
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