Chestnut Park, Springfield, Massachusetts

The Chestnut Park Apartments of Springfield, Massachusetts is a collection of four apartment buildings in the city's Metro Center district.

Layout

The Chestnut Tower main entrance is located on 10 Chestnut Street, off State Street and Dwight Streets. The tower is a 34-story apartment building that consists of 240 units.

History

Chestnut Towers was built as a luxury high-rise in 1976, but as The Downtown declined around it, the tenants became mostly low-income. Twenty years ago the state sold the Towers and the rest of the Chestnut Park Apartments complex to Related Springfield Associates Limited Partnership.

The partnership, based in New York City and Boston, took over the $17 million mortgage and completed millions of dollars in renovations, from fixing up the sidewalks outside to rehabilitating the then-aging elevator, heating and air conditioning systems. As part of a deal to do the upgrades, the partnership was able to collect $1 million a year in low-income housing tax credits for a decade after.

Past Management

See also

• Metro Center, Springfield, Massachusetts
• Affordable housing in the United States