The Mill at Middletown is being adapted from a late 19th-century mill that was originally a factory specializing in producing hats and silk. Once a hub of economic opportunity, this property, which has been vacant since the early 1980s, is now poised to again serve the community, with 42 new units of affordable rental housing, commercial, and community space.
With CPC providing a $7.3 million construction loan and a SONYMA- insured $1.8 million permanent loan through the New York State CRF, the developer was able to begin work on the renovation and conversion of the main mill building into rental apartments. When completed, the Mill at Middletown will serve dozens of hardworking families earning between 30% and 50% of the Area Median Income. The project will also include a new community room and a Fresh Start Café, which will provide on-site job training in the culinary arts, thus reviving the original mill’s legacy of economic opportunity and job creation.
CPC partnered with Middletown and their Business Improvement District (BID) on this project, and has financed a number of other revitalization projects in the downtown area. The Mill at Middletown, which is a short distance from major transportation and within walking distance to area shopping and other amenities, will help serve as a catalyst for continued growth and investment in the community.
Our commitment to partnering with the communities we serve and working to understand their needs is the hallmark of how we do business.