SPRINGFIELD, Mass. (WWLP) – You may have noticed under new management signs hanging on the Chestnut Towers apartment buildings.
As of February, the building is under new management through it’s part-owner Related Companies.
According to Gerry McCafferty, Director of Housing in Springfield, the company is looking to redevelop and upgrade the building. He also told 22News the new management group has been very active since taking over in February.
Springfield Mayor Domenic Sarno told 22News the hope is once the building is redeveloped, it will attract working class residents.
“We did some reach out because we feel that it’s important that we secure the Chestnut Towers area to make good, affordable workforce housing, clean and safe,” Sarno said. “So they’re sinking millions and millions of dollars in there to re-purpose that and make it better.”
Built in 1976, the complex has 489 apartment units across three buildings. It includes Springfield’s tallest residential tower, a 34-story structure located at the intersection of Chestnut and State Street.