32-unit development with 11 studio, 19 one-bedroom and 2 two-bedroom apartments. Reserved for households with at least one member aged 62 or older. Eight apartments reserved for households earning up to 30% of the AMI and 24 apartments are reserved for households earning up to 60% of the AMI.
Project Size: 30-49 Units
Completed: 2025
Location: Salem, MA
Affordable Housing and Shelter on Faith Land Database
Residences at St. James
Project & Congregation Details
Congregation Information
House of Worship: Salem Catholic Schools
Denomination: Catholic
Community Development Corporation: North Shore Community Development Corporation
Location Information
State: MA
City: Salem
Geography: Suburban
Project Information
Approval: 2024
Completed: 2025
Developer: North Shore Community Development Corporation
Land: Leased
Housing Type: Affordable Rental
Funding
Local
$8.8 million in American Rescue Plan Act financing through the Affordable Housing Trust Fund and the City of Salem; $1 million from Massachusetts Executive Office of Housing and Livable Communities; $750,000 from the Community Economic Development Assistance Corporation; $500,000 in Salem Community Preservation Act funds; and $300,000 in local HOME funds
State
MassHousing provided North Shore Community Development Corporation with $19.1 million in tax credit bridge financing, $2.4 million in permanent financing and $500,000 in Middle Income Housing financing. The funding is split between Hawthorne and St. James Residences (two school redevelopment projects).
Federal
Low-Income Housing Tax Credits with $18.5 million in equity by Stratford Group split between Hawthorne and St. James Residences (two school redevelopment projects) and allocated by the Massachusetts Executive Office of Housing and Livable Communities; $9.8 million in federal and state Historic Tax Credit financing by Dorfman Capital;
Other
$25 million in construction financing from TD Bank;;