After years of neglect, it took a team of supporters, board members and financing partners to transform an abandoned West Elmwood mill complex into homes for dozens of families.

And in so doing, they will transform a community, according to partners involved in the Westfield Lofts project.

On Friday, the West Elmwood Housing Development Corporation, the lead developer, was joined by politicians, city and state officials, funding partners and neighbors to celebrate conversion of the former Rau Fastener mill complex into 69 loft apartments.

The $15-million project is the first phase of project to build 20,000 square feet of commercial and retail space, 24 townhouses and 24 houses for first-time homeowners at the site off Dexter Avenue.

At Friday's ribbon-cutting ceremony for the first phase, West Elmwood executive director Sharon Conard-Wells told the audience that the project was challenging.

Inspired by neighbors, Conard-Wells came up with the vision for turning the 3 1/2-acre blighted complex into mixed-use housing not long after the factory closed in the early 1990s. The complex had become an eyesore and had been taken over by weeds, debris and prostitution. Vandalism and illegal dumping also helped turn the site into a nuisance.

However, at the time, the concept of developing and making former factories environmentally safe for residential housing was considered too costly and unrealistic.

Still, Conard-Wells and members of the West Elmwood board of directors spent 10 years pushing the idea and recruiting partners.

"This is a long time coming," said Barbara Anderson, the board's vice president. "We are proud of this building."

Conard-Wells called the project a "faith-based development," noting that she had a circle of friends to help her pray when times got tough.

"Westfield Lofts is a high impact real estate development that helps to serve tenants at various income levels and demonstrates what long-term commitment and true partnerships across sectors can accomplish."

The project received funding from many agencies, including Bank of America, Sovereign Bank, the Federal Home Loan Bank of Boston's Affordable Housing Program, Rhode Island Economic Development Corporation, the city, NeighborWorks America and the Local Initiatives Support Corporation. Financing came in the form of loans, state tax credits and grants.

Sen. Jack Reed said there is much work to do in order to create more affordable housing for Rhode Island families. In the Ocean State, a program to support development of affordable housing was increased from $5 million to $7.5 million, thanks to support from the governor and legislature.

Unfortunately, Reed noted, proposals at the federal level would cut programs that provide support to projects such as Westfield Lofts. Of the 69 apartments, 22 will be affordable housing for low-income families and the remainder will have market-rate rents.

Rents will range from about $490 to $1,300.

Sen. Lincoln Chafee said the historic tax credit program plays a key role in making mill conversion projects happen.

The Rau Fastener factory, which opened in 1892, was eligible for those tax credits.

He urged developers to keep up the good work because such development has a "contagious affect" on surrounding neighborhoods.

Under the federal brownfields program, which works to identify and clean-up contaminated former industrial sites, the project was the first not-for-profit initiative to receive assessment funding from the U.S. Environmental Protection Agency, Conard-Wells said.

She praised Mayor David N. Cicilline for being a partner, providing funding and cutting through the "red tape" to make it work.

"That's unique for a city and a mayor," Conard-Wells said.

The project included demolition of some areas of the factory and renovation of a three-story and four-story building. The lofts, which were designed by Durkee Brown Viveiros and Werenfels to maintain their historic character, include high ceilings, large windows, exposed brick, exposed ceiling beams, central air and washer-dryer hookups. The complex includes a courtyard, community room, laundry room, parking and an intercom-controlled entry.

Conard-Wells said she hopes work on the next phase, the commercial and retail building, will be completed within 18 months.

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