Image courtesy of The Architectural Team

What: The Westcott
Where: 125 Essex St., Swampscott
Owner: WinnDevelopment
Built: 2024-2025

A $69.1 million financing package was completed for the development of a mixed-income community near commuter rail and bus service in Swampscott.

WinnDevelopment estimates a mid-2025 opening date for the 114-unit Westcott project, located on a 1.3-acre former industrial property at 125 Essex St.

The development will include 16 income-restricted apartments reserved for households earning a maximum of 30, 60 and 110 percent of area median income, along with 20 market-rate units.

Financing for the project included low-income housing tax credits and American Rescue Plan funding. MassHousing provided bridge, permanent and workforce housing financing. The project also received contributions from the Swampscott Affordable Housing Trust and North Shore HOME Consortium contributed funds to the development.

They Said It:

“We believe this development will provide a wonderful housing choice for existing residents, and we look forward to welcoming the new residents it will bring to Swampscott as well. The development process also advanced a much-needed conversation about housing, zoning, equity, and access in our strategically located but small town.”
— Kim Martin-Epstein, chair, Swampscott Affordable Housing Trust