The Massachusetts Housing Finance Agency, a quasi-public agency charged with providing financing for affordable housing in the Commonwealth, said it has recently closed a $6 million construction bridge loan for the renovation and conversion of the former Dalrympe School in Winthrop into 27 affordable apartments for senior citizens.
The Dalrymple School Apartments project is being developed by the East Boston Community Development Corp.
The vacant, two-story, brick school building was built in 1920 and is located at 46 Grovers Ave.
In a press release, MassHousing said: “The unit mix will include 4 studio apartments and 23 one-bedroom apartments. The renovation will also involve the replacement of all major building systems, the installation of an elevator, the re-pointing of exterior masonry and the replacement of precast stone window sills. An existing school auditorium and its historic features will be preserved as a common area for resident activities and functions.”