New Bedford ‘hole' getting filled with $21M housing complex
By Frank Mulligan
Published on May 7, 2026.
The "hole in the ground" at 193-197 Union St., once the site of the Keystone Building in New Bedford, is being filled with a $21 million mixed housing and commercial development. The project will include 36 market-rate apartments and nine units offered for incomes at 100% of the area median income. The ground floor will feature 2,500 square feet of commercial space. New Bedford native Lauren Jezienicki led the redevelopment efforts as CEO of One Circle Co., which is developing the site with DW Capital with support from the city and state, as well as local investors. The city's contribution to the financing totaled $1.25 million, including a $1 million American Rescue Plan Act award from Mayor Jon Mitchell. Additional support for the project includes a $3.55 million Housing Development Incentive Program tax credit award from the state’s Executive Office of Housing and Livable Communities, $9.5 million in construction financing from Coastal1 Credit Union, and $6.1 million from the Massachusetts Housing Investment Corp.
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