B’nai B’rith Housing has begun construction on a senior apartment complex in Sudbury.

The Coolidge, located at 189 Boston Post Road, will be a 64-unit apartment complex serving active seniors and older adults aged 55 and over.

B’nai B’rith Housing purchased the land at the end of May from the Mercuri family for $2 million. The organization finalized its financing with the Bank of America/Merrill Lynch in June. 

The residences will be built for approximately $16.7 million and financed by Bank of America/Merrill Lynch.  Approximately $10.7 million of private equity has been raised associated with an award of federal and state tax low-income housing credits allocated through the Commonwealth of Massachusetts’ Executive Office of Housing and Economic Development. 

Other sources of funds for the development include The Sudbury Housing Trust and MetroWest Home Consortium funds for approximately $250,000 and $97,000 respectively, $1 million from the state’s Affordable Housing Trust Fund and $750,000 from the state’s Housing Stabilization Fund. 

The Coolidge will be a colonial-style planned development that includes common space, a meeting room, library, fitness center and outdoor patios. It will have 61 one-bedroom units and three two-bedrooms.  A property management office will be located on site.

All of the units will be affordable to households earning no more than 60 percent of the median income for the area, which is approximately $39,600 for a single-person household and $45,300 for a two-person household. 

The architect for the project is The Architectural Team of Chelsea. The general contractor is Keith Construction Inc. of Canton.