Hat City Lofts is a redevelopment project of the former F. Berg hat factory complex by Housing and Neighborhood Development Services, Inc. (HANDS). Hat City Lofts will present 32 distinctive loft condominiums for sale at an affordable price. The emerging market condos is anchor project for the Valley’s redevelopment from the the former hat making capital that left a graveyard of abandoned manufacturing sites into the vibrant Valley Arts District.
Redevelopment of the Berg complex will occur in two phases and includes 32 affordable loft condos, with sizes ranging from 750-1,150 SF. Most units will be affordable based on HUD affordability standard for Essex County. Many of the units will be made available with 100% financing. Additionally, a 20 year tax abatement lowers the total cost of ownership to a monthly payment. These attractive financing options make the “cost to own” lower than “the cost to rent”.