Construct Receives $2M for Renovation of Cassilis Farm in New Marlborough
FOR IMMEDIATE RELEASE
Wednesday, January 17, 2024
NEW MARLBOROUGH, MA – Construct, the leading nonprofit provider of affordable housing and support services in the Southern Berkshires, has received over $2 million in funding from Federal Home Loan Bank Boston’s (FHLB) Affordable Housing Competitive Funding Program, in partnership with Greylock Federal Credit Union. This award is a tremendous step toward providing New Marlborough with its first affordable housing units. The money will help Construct create 11 new apartments at Cassilis Farm, a Gilded Age estate set on eight acres. Two additional single-family houses on the property will be funded privately, providing more immediate homes for New Marlborough’s essential workers.
FHL Banks Boston’s Affordable Housing Program (AHP) supports the development and rehabilitation of stable and affordable rental and for-sale properties in New England. Grants and loans help pay construction, acquisition, and rehabilitation costs. The $2 million awarded to Construct consists of a $1.2M subsidized mortgage and a $850,000 grant. Partnering with Construct, Greylock Federal Credit Union will hold its construction loan, which will become a permanent subsidized mortgage at the end of the project’s construction phase.
In 2020, New Marlborough’s Affordable Housing Committee released a report stating that the town has no affordable housing and businesses are struggling to keep their doors open due to severe staff shortages. In 2022, with the housing crisis at an all-time high in southern Berkshire County, Construct purchased Cassilis Farm with the generous financial support of friends, neighbors, and New Marlborough ARPA funds. When construction is complete, Construct will have created a total of thirteen new units of 1-3 bedroom affordable housing, expanding New Marlborough’s community base, promoting economic stability, and contributing to a future of growth and development. Full occupancy at Cassilis Farm is anticipated in early 2026.
Michael Barbieri, Greylock Federal Credit Union’s Vice President and Manager of Business Banking states, “At Greylock, we recognize and understand that affordable housing is essential to maintaining a strong and vital community. This project will help to ensure that members of our local workforce in New Marlborough will be able to live in the community where they invest their time, talent, and energy each day.”
Jane Ralph, Construct’s Executive Director, states, “Receiving this funding in partnership with Greylock Federal Credit Union is a positive step forward. It is gratifying to see our shared vision of affordable housing in New Marlborough gain momentum in this way. It’s a long and complicated process, and this vote of confidence and support means so much.”
Based in Great Barrington, Construct has been the leading nonprofit provider of affordable housing and supportive services to south Berkshire County residents in need for over 50 years. With a small, highly skilled staff and committed volunteers, Construct leverages time, talent, money, and long-standing community relationships to support its mission. Providing over 90 permanent, affordable housing options, Construct also offers ten units for individuals transitioning out of homelessness. The bulk of Construct’s annual income comes from individual donors. With this support, Construct helps rebuild security, stability, and hope in the southern Berkshires.