Developers including Synergy, Redgate and Nordblom Company received tax credits from the Healey administration to help pay for projects converting out-of-favor commercial properties into 856 multifamily housing units.
The commercial conversion tax credit previously announced funding for five residential projects totaling 340 units.
In Westford on Wednesday, Lt. Gov. Kim Driscoll announced the latest round of awards at a property that was rezoned for housing under the MBTA Communities law.
The former Westford Regency Inn & Conference Center was acquired by Boston-based Redgate in December for $12.8 million and received approval for a redevelopment totaling 300 apartments in two buildings.
Office buildings in Boston, Dedham, Springfield and Worcester also received tax credits that will be used to complete financing for adaptive reuse projects as housing.
“The reality is that many commercial conversion projects are difficult to finance even when the sites are in prime locations, have community support and ready to move forward,” Housing and Livable Communities Secretary Juana Matias said in a statement. “The Commercial Conversion Tax Credit Initiative helps close that gap.”
Boston-based developer Synergy received $4 million toward its 294 Washington St. project in Downtown Crossing, an 11-story, 220,000 square-foot office building that is being converted into 255 apartments. The estimated project cost is $133 million.
In downtown Worcester, The Menkiti Group received $2.3 million for its adaptive reuse of the former Shack’s Clothes building into 48 apartments.
In downtown Springfield, McCaffery Interests Inc. is converting four historic buildings into 99 apartments, and will receive $3 million in tax credits.
And in Dedham, Burlington-based Nordblom Development Company plans to demolish two commercial buildings to develop 154 apartments at 110 Stergis Way.




