Work on Winchester Green, a planned mixed-income and mixed-use development in New Haven’s Science Park, will begin in the new year as the development team announced it has secured funding.

Winchester Partners, a joint venture of Twining Properties and LMXD, a national mixed-income developer, is building the $90 million Winchester Green development – a five-story building that will host 283 mixed-income apartments on an underutilized surface parking lot. The project will include 57 affordable units and 12,800 square feet of retail space.

A joint venture between Twining Properties and LMXD has secured $59.5 million in financing to build Winchester Green, a mixed-income, residential and retail development in New Haven, Conn., Commercial Observer has learned.

Keybank (KEY) provided a $49 million senior loan for the project, while the New Haven Housing Authority provided a $10.5 million tax exempt loan in the deal.

Developers won permission to build 287 new apartments, two new privately owned streets, and a new public plaza — continuing the transformation of the former Winchester Arms factory complex into a research, residential, and shopping hub.

In its heyday, the former Winchester Repeating Arms factory was a bustling hub of economic activity for New Haven’s Newhallville and Dixwell neighborhoods, at one time drawing some 25,000 people a day into the area to work for the legendary rifle maker.

Hundreds of new apartments. Tens of thousands of square feet of office and lab space. Ground-floor retail up and down Winchester Avenue.

Science Park’s redevelopers unveiled those plans to Dixwell and Newhallville neighbors as they prepare to embark on the next stage of turning the former Winchester Arms factory complex into a research, residential, and shopping hub.