State agency Mass Housing is announcing it is providing 50-million dollars for the refinancing and renovation of the Chestnut Park Apartments in downtown Springfield.
The assistance will allow Related Companies, the building's owner, to create 77 workforce housing units for moderate-income households, according to a statement from MassHousing.
Chestnut Park has suffered from years of neglect and disrepair since opening at a high-rise luxury residence in 1976.