$483,000 Per Unit
Currently most people believe we already have enough "affordable" housing in Worcester. If you are a developer of "affordable" housing in Worcester, evidently the plan is to now call this "workforce" housing.
Check out this Telegram column and "14 workforce apartments". Same all week when we heard any supporters for the Community Preservation Act on the radio, the key word was "workforce".
Check out the math on this project:
Total amount of monies allocated to this project from various sources 26,600,000!! Since there are 55 units, the average cost to develop these units is approximately $483,000 per unit.