Lenox, Mass. – September 29, 2026 – Rockland Trust announced today that it is providing a $22 million financing package to support Pennrose's development of a new 68-unit mixed-income residential community at 238 Pittsfield Road in Lenox, Massachusetts. The project will expand affordable and workforce housing opportunities in Berkshire County, helping address one of the region's most pressing housing challenges.
"Access to quality, affordable housing is essential to the strength and vitality of our communities," said Kelly Nguyen, SVP and Commercial Banking Officer at Rockland Trust. "We are proud to partner with Pennrose on a development that will create meaningful housing opportunities for Berkshire County residents while supporting smart, sustainable growth in Lenox."
The project marks Pennrose's second mixed-income housing development in Lenox, following the recent completion of Forge. Together, the two communities will create additional housing opportunities for local families, workers, seniors, and residents experiencing housing insecurity while helping the town of Lenox exceed the Commonwealth's affordable housing benchmark.
"238 Pittsfield Road builds on the progress that the Town of Lenox has made in addressing the region's pressing needs for affordable, family-sized rental housing," said Karmen Cheung, Regional Vice President at Pennrose. "This partnership with the Town of Lenox continues to deliver communities that give families of all sizes a place to call home. Together with Forge, these two communities reflect our long-term commitment to meeting the diverse housing needs of Berkshire families."
The development will provide much-needed housing for residents with the greatest housing needs while contributing to the long-term vitality of the Lenox community and surrounding regions. Upon completion, the development will offer a mix of one-, two-, and three-bedroom apartments, including 57 affordable and workforce homes and 11 market-rate units. Construction is underway, with residents anticipated to begin moving in during 2028.
About Pennrose
With more than 50 years of experience, Pennrose combines quality development and proven management to deliver exceptional lifestyle-centered communities for its residents. With the superior knowledge and unparalleled dedication to get the job done right, Pennrose develops and operates conventional, affordable, mixed-income, and mixed-use communities throughout the United States. For more information visit www.pennrose.com.
Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts, Worcester County, and Southern New Hampshire as well as commercial banking and investment management offices in Massachusetts, New Hampshire, and Rhode Island. Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.
