08/24/2026
On Monday, First Resource Companies celebrated the completion of 122 new affordable homes along Springfield’s State Street, bringing new life to two historic buildings.
Residences at the Vault transformed the former Federal Land Bank building into 60 apartments affordable to households earning at or below 70% of the Area Median Income (AMI). Originally built in 1924, the Georgian Revival building pairs preserved historic character with modern amenities and energy-efficient appliances.
Just down the street, Merrick Park Apartments converted Springfield’s former Fire and Marine Insurance Building into 62 affordable homes for households earning at or below 60% AMI. This Classical Revival was originally built in 1905 and is on the National Register of Historic Places.
Each development also included the renovation of an additional building, contributing to the total number of homes created at both properties.
MHP is proud to support both developments with permanent financing. Over the past 20 years, we’ve partnered with First Resources Companies to help create 1,094 homes in Springfield, and we can’t wait to see what the future holds for our long-lasting partnership!
Congratulations to First Resources Companies and all of the partners, teams, and community leaders who helped bring these developments across the finish line.
📸 Andy Ryan Photography and MHP
