Posted on June 8, 2012
NORTH EASTON, Ma.,June 8, 2012 --- State and local leaders gathered in June to celebrate the start of construction on Ames Shovel Works, an ambitious development that will create 113 rental units, 160 construction jobs and preserve a cherished local landmark that is a key piece of the state's rich manufacturing history.
Beacon Communities is redeveloping the 15-building complex near Easton's downtown, thanks in part to a $17.5 million financing commitment from MHP and $7.35 million in Community Preservation Act Funding from the Town of Easton. In addition to the new housing, a wastewater treatment facility will be built on the site that will have the capacity to serve new residents and the nearby downtown commercial stretch.
The former Oliver Ames & Sons Shovel Company factory played a significant role in the industrial transformation of 19th century America. Employing more than 500 workers, it used linear production methods 50 years before Henry Ford. Ames shovels helped build the transcontinental railroad, enabled the California gold rush, and were standard field tools for US Army soldiers from the Civil War to the Korean War.
Prior attempts to redevelop the complex by demolishing some buildings did not square with the town's wishes to preserve the property, which is located within the North Easton Historic District and includes municipal buildings and properties designed by famed architect Henry Hobson Richardson and landscape architect Frederick Law Olmsted.
Residents formed a group that explored ways to preserve the property and approached Beacon Communities to craft a solution. Beacon engaged the architectural firm of Prellwitz Chilinski Associates and began working with town boards, the Friends of the Historic Ames Shovel Works, and resident. Highlights of the final development plan include:
- A land plan that repurposes the historic buildings and site with housing, space for a town office or local non-profit, and 1.5 acres of open space.
- Thirty of the 113 rental homes will be affordable in perpetuity to households earning at or below 60 percent of the area median income. Four units will be affordable to households earning at or below 100 percent of the area median income. The remaining 79 units will be leased at market rates.
- Apartment designs that create modern, light-filled, and historically-respectful units; capture additional interior space by modifying rooflines with new dormers and skylights; and shape loft bedrooms through use and adaptation of existing trusses and rooflines.
- Energy efficiency measures and sustainable design throughout the project. The project is seeking LEED for Homes Silver certification from the US Green Building Council.
- Construction by the Town of Easton of a wastewater treatment system that will accommodate a portion of North Easton Village as well as the approximately 200 residents coming into the new apartments at Ames Shovel Works.The wastewater treatment plant will create opportunities for new economic vitality on Main Street.
Beacon Communities and PCA worked with a number of engaged stakeholders on creating the final plan: the Easton Board of Selectmen, the Easton CPA Committee, the Easton Historical Commission, the Easton Zoning Board of Appeals, the Massachusetts Historical Commission, the National Park Service, the Friends of the Historic Ames Shovel Works, and members of the Ames family.
"All aspects of this development - permitting, financing, and design - were highly complex," said Beacon Communities CEO Howard Cohen at groundbreaking ceremonies on June 8. "Making this project a reality required getting approval and support from a wide variety of people and groups. Everyone's input and expertise was integral in saving this endangered landmark for Easton."
Colleen Corona, the chair of the Easton Board of Selectmen, said "The Ames Shovel Works is a defining feature of the town, and one of our historic treasures. Through this site the name Easton was spread not just across the nation but around the world, and losing this piece of American history would have been unacceptable. We are thrilled that a proactive approach led us to partner with Beacon, who has shown the utmost sensitivity to the historic site and the needs of the town."
The development's financing is a mix of public and private sources. In addition to long-term financing from MHP and CPA funds from the Town of Easton, Ames Shovel is being financed with federal and state low-income housing tax credits and historic rehabilitation tax credits awarded by the state. The tax credits were purchased by Bank of America Merrill Lynch to generate equity financing for the project. Bank of America Merrill Lynch is also providing construction period financing for the project.Additional debt financing is being provided by the Massachusetts Affordable Housing Trust and the Greater Attleboro Taunton HOME Consortium.
"There are three reasons why the Patrick Administration supported this," said Greg Bialecki, the state's economic development director. "We like to support projects that are good for the community, the region and the state, we knew this plan was embraced at the local level and we knew that by bringing housing into your community, you're making your community stronger and bettter."
Construction is in full swing and the project is expected to be completed in late 2013.