Epsilon Joins Ribbon Cutting for Historic Julia Bancroft Housing Project
Pennrose and elected officials were also present for the Auburn, Mass. opening ceremony for the conversion of this historic school to affordable senior housing.
February 1st, 2023
Epsilon Associates congratulates our client Pennrose on the completion of the historic Julia Bancroft School housing project in Auburn, Massachusetts. Epsilon, along with local and state officials – including Lieutenant Governor Karen Polito, State Senator Michael Moore, Representative Paul Frost, and Auburn officials – celebrated the completion of Pennrose’s historic rehabilitation project and the creation of 60 units of mixed-use housing at a December 12, 2022 ribbon cutting ceremony.
Constructed in 1927, the Julia Bancroft School underwent a substantial rehabilitation, including significant masonry repairs, the installation of historically appropriate windows, and the retention and preservation of historic features such as wood floors, historic doors, corridors and staircases, and features such as chalkboards and built-in cabinetry within former classrooms. A 1954 addition was removed and replaced with a new residential building designed to blend seamlessly with the original historic school building. Epsilon’s team of historic preservation professionals provided historic tax credit consulting services for the project.
Of the building’s 60 units, each for seniors aged 62 or older, 45 will be sold for residents at or below Area Median Income (AMI). Four of the units for residents at or below AMI will be specifically set aside for Community-Based Housing (CBI), while seven will be accessible units. The remaining 15 units will be leased as market rate units.
The building, which meets LEED Silver Sustainability measures, was converted to meet ADA standards, and comes with amenities including modern appliances, spacious closets, and central air conditioning.
Julia Knowles Bancroft, born to a local farming family in 1847, served as an Auburn school committee member from 1896 until her death in 1920, most years as a Committee Secretary. The Julia Bancroft school, built to address the town’s growing population, was named in honor of the woman widely recognized by the community for her dedication to the city’s education.
In addition to the Bancroft school, Epsilon also provided historic tax credit consulting services for Pennrose’s Mary D. Stone School, another affordable senior housing project also located in Auburn. Similar to the Bancroft School, the Mary D. Stone project involved the rehabilitation of the historic 1928 school and the creation of 55 units of new elderly housing. The Mary D. Stone project was recently honored by Affordable Housing Finance magazine as Best Historic Rehab Development.