Dakota Partners Awarded Financing for Woodland Cove in Wareham, MA
WAREHAM, MASSACHUSETTS – Dakota Partners has been awarded state and federal financing for Woodland Cove, a new affordable housing community in Wareham, Massachusetts. Financing for this project has been secured through a combination of State and Federal low-income housing tax credits (LIHTC), Massachusetts State Housing subsidy funds and conventional debt through commercial lenders. Construction is anticipated to start in May 2021.
Located on a busy commercial strip near the Bourne Bridge, Woodland Cove will be comprised of five buildings that will be built in three phases. The first and second phases will consist of 63 units each, and the third phase will add 24 more units. Woodland Cove’s 150 total units will be made up of 27 one-bedrooms, 106 two-bedrooms and 17 three-bedrooms. Phase 3 of this project will also include the construction of a community building, which will feature a fitness center, community room, patio, lobby, package room, storage room, four offices, two restrooms, and a maintenance room.
Construction will include the demolition of the existing Starlight Motel to make way for quality, permanent housing for people of varying means. Dakota and the current property owner, Boston Land Group, are currently working together on a plan to address relocation matters for the current residents in the motel, consistent with state and federal relocation procedures and standards. A part of this plan will provide an option for the qualified households of the motel to move into Woodland Cove when completed.
All of the buildings will be constructed using Passive House design and each individual unit will contain Energy Star appliances to ensure high energy efficiency year round. Passive House design is a set of energy efficient building principles that utilizes heavy insulation, airtight building envelope and heat-recovery ventilation systems to reduce overall energy consumption. An early adopter of Passive House design and construction, Dakota is a leader in our industry with eight projects currently under construction or in development using Passive House principles.
A real estate developer and contractor, Dakota Partners acquires and develops multi-family rental and condo communities across New England and the mid-Atlantic, a significant percentage of which are garden-style affordable housing developments. At the core of every project is Dakota’s mission to improve the lives of the people who live in our communities. By integrating high-level design, green building technologies, and quality craftsmanship, Dakota provides warm and inviting homes that enrich both the community and its residents. Strategic partnerships with neighborhood groups and public officials ensure the success of these projects for all stakeholders in the community.