TEMPLETON — MPZ Development, a developer that partners with public agencies to create small-scale mixed-income housing, and Capstone Communities, a developer of affordable, market-rate, and historic apartment communities, have finalized funding for the Baldwinville School Apartments.
The Baldwinville School Apartments project will convert the former Baldwinville Elementary School into 54 rental units, marking Templeton’s first permitted multifamily housing development in over 25 years, according to the Boston Real Estate Times.
The Baldwinville School Apartments will include 49 affordable units for households earning 30% to 60% of the area median income, with the rest offered at market rates. Designed by ICON Architecture, the project will renovate the historic school building and add new construction built to Enterprise Green Communities and Passive House standards.
Funding for the project comes from a mix of public and private sources, including the Massachusetts Executive Office of Housing and Livable Communities, MassHousing, Rockland Trust, National Equity Fund, the Massachusetts Historical Commission, and The Life Initiative. Local contributions include $1.924 million from Templeton’s Community Preservation Committee through the Community Preservation Act and $750,000 from the state’s Underutilized Properties Program, administered by MassDevelopment.
“We are thrilled to announce the secured financing for the Baldwinville School Apartments as we seek to bring this project to life and help address the region’s critical need for high-quality affordable housing,” Jason Korb, Principal of Capstone Communities, and Mathieu Zahler, Principal of MPZ Development, said in a joint statement. “Thank you to our public and private financing partners for believing in our vision for the Baldwinville School Apartments.”
The apartments will offer a variety of layouts—lofts, studios, and one- to three-bedroom units—and planned amenities such as a courtyard, community green space, playground, fitness center, electric vehicle charging stations, in-building laundry, and a walking trail overlooking the Otter River.
Templeton Interim Town Administrator Holly Young noted the years of collaboration that led to the project’s advancement. “This project has been in the works since early 2020 and the Town of Templeton is very excited to see the building renovated and re-used,” she said. “It has taken a lot of work and joint efforts from the Town of Templeton departments working with Matt Zahler of MPZ Development and Jason Korb of Capstone Communities to see this project come to fruition.”
Templeton Select Board Chair Michael Currie called the financing milestone a significant step forward. “We, the greater Templeton community, are so happy to enter the final phase to see this project through,” he said.
Construction is set to begin soon, with a groundbreaking ceremony scheduled for May.
