The Regency
New Bedford, MA
Standing 16 stories tall with commanding harbor views and located just steps from the historic downtown district, The Regency is the most prominent building in downtown New Bedford. Completed in 1988 as a luxury apartment complex, the property suffered from significant façade deterioration and water damage due to a lack of major capital investments since its opening.
MassHousing foreclosed on the property in 2005, and in 2009, Trinity Financial was selected to acquire and redevelop the building. Trinity invested a total of $32 million, converting underutilized commercial space into new apartments and increasing the total number of units from 123 to 129. The unit mix includes 33 affordable units, 10 workforce units, and 86 market-rate units. The façade was replaced on floors 5–16, while additional repairs, including new windows and patio doors, were made to floors 1–4. The building's common areas and apartment interiors were renovated with new kitchens, bathrooms, and HVAC systems.
The Regency is now fully leased at rents exceeding pro forma levels. It commands the highest rents in the area and is widely considered the premier high-rise apartment property in downtown New Bedford.
View The Regency Website
Type
Mixed-Income, Market-Rate
Total Development Cost
$30 Million
Units
129 / 33 affordable units, 10 "workforce" units and 86 market-rate units / 1 Bldg.
Completed
2011
Mixed-Income, Market-Rate
Total Development Cost
$30 Million
Units
129 / 33 affordable units, 10 "workforce" units and 86 market-rate units / 1 Bldg.
Completed
2011
