Manchester, CT — The Simon Konover Company held a formal ribbon cutting ceremony at the Dye House Apartments in Manchester to celebrate the transformation of the landmark building.
Built in 1914, the Dye House is located within the Cheney Brothers National Historic Landmark District, once home to the first commercially successful silk mill in the U. S., and is one of the last of the major buildings in the complex to be restored.
The reconstruction project transformed the former mill into 57 unique apartment homes with high ceilings, exposed brick walls, and large architecturally-detailed windows, preserving the classic timber and brick elements of the early 1900 mill construction style. Meehan & Goodin of Manchester was the engineer for the project.
The adaptive reuse project created modern one, two and three-bedroom affordable apartment homes while retaining the historic charm of the building’s structure. 100% of the units have been set aside for income qualified residents. The project was financed by Low Income Housing Tax Credit proceeds provided under the American Reinvestment and Recovery Act, the U.S. Department of Housing and Urban Development’s HOME program, and a first mortgage being provided by CHFA.
The financing structure also included the sale of federal historic preservation tax credits by the National Equity Fund to TD Bank and the sale of state historic tax credits to John Hancock.