LYNN — La Casa Project has received $6,917,560 from the Healey-Driscoll administration to support the construction of 40 single-occupancy affordable-housing units on Oxford Street.
The project received $950,000 in federal low-income housing tax credits, $500,000 in state low-income housing tax credits, and a $5,467,560 state subsidy.
With the addition of state and federal funds, the $18 million project is now fully funded. The rest of the funding is coming from local funds and a bank loan, according to Noah Frigault, the director of special initiatives at Commonwealth Land Trust, the organization that proposed and manages the project.
The project is a collaboration with the Massachusetts Coalition for the Homeless.
Frigault said the organization “is thrilled to be accepted in the first round for this funding.”
“This will literally shave years off of our potential construction timeline and put some of Massachusetts’ most vulnerable residents into housing that much sooner,” he added.
The target populations for the housing are people with a history of homelessness, extremely low incomes, and disabilities, including addiction, mental-health challenges, and medical conditions.
According to Frigault, the project is expected to close construction in early 2026 and open occupancy to residents in 2027.
The building will be a five-story unit, and the goal is to locate the apartments close to services, employment opportunities, shopping, health-care centers, and public transit, according to the project’s portfolio.
The funding was part of a $227 million affordable-housing initiative to preserve and create 2,000 affordable-housing units across Massachusetts, which was supported by Gov. Maura Healey’s administration.
Frigault said right now, the project is working with a trauma-informed architect to design a building that will have a positive impact on the future residents’ mental health.
“Where is the front desk located? Where are the windows located? Things like this… will impact the quality of life,” he said.
He said the building will also offer clinical services on site.
The Commonwealth Land Trust is a nonprofit that was founded in 1985 as a development agency to preserve affordable housing. It has other affordable-housing locations in Boston’s Beacon Hill, Dorchester, Roxbury, and South End neighborhoods, as well as in Lawrence.
