Loring Towers, the 250-unit affordable housing complex on Loring Avenue in Salem, is in line for a serious upgrade. Owner Related Beal is preparing a $38 million, multi-phased renovation that will kick off in August and run through 2028, with the company and state partners saying the overhaul will keep long-term affordability in place at the site through 2056.
Project Details And Timeline
The two-tower development, originally built in 1974, is slated for a top-to-bottom rehabilitation. Work will be phased so residents can stay in their homes while construction moves through the property. According to an announcement from Connect CRE, the renovation program is designed to extend Loring Towers' affordability protections to 2056 and is expected to wrap up by 2028.
What Will Be Upgraded
Inside the apartments, plans call for new kitchens with updated appliances and countertops, refreshed bathrooms with modern fixtures, new flooring and paint, and upgraded electrical panels. On the building systems side, the project will bring new roofs and plumbing, install new HVAC systems, windows and elevators, and repave the parking area. A solar carport is also on the way. Outside, the rehabilitation will add a basketball court and a new children's playground that will be designed with resident input, as reported by Patch.
Developer Statement
"We’re making a long-term commitment to the Salem community," said Kimberly Sherman Stamler, president of Related Beal. The developer says it plans to reimagine the site while keeping it affordable for current and future residents. That comment appeared in the company's announcement to Connect CRE.
Ownership And Official Filings
MassHousing board minutes show that Related Affordable took control of Loring Towers as part of an ownership transfer in 2018. The agency's public notice of a proposed tax-exempt bond issuance also lists Loring Towers and records an aggregate face amount for the property's obligations "not to exceed" $69,631,250. Those details appear in the MassHousing board minutes and the agency's public notice for the bond offering.
Residents And State Reaction
Related says it has already completed targeted repairs and rolled out resident programs that include tax-preparation assistance, scholarships and food partnerships, with officials highlighting resident input on the new amenities. "MassHousing is excited for the residents of Loring Towers who will soon see significant improvements," MassHousing CEO Chrystal Kornegay said, while Juana Matias said the work supports the Healey-Driscoll administration's preservation goals. That reaction was reported by Patch.
What Comes Next
Construction is slated to begin in August, with work phased through 2028 as Related coordinates financing and resident services with state and MassHousing partners. For the 250 households at Loring Towers, the renovation promises upgraded homes, new outdoor play spaces and affordability locked in for decades to come.
