The Clark Block at 401–409 Main St. in downtown Worcester. Photo courtesy of The Menkiti Group
The Menkiti Group’s 48-unit residential conversion in downtown Worcester landed $3.16 million in state tax credits last week, part of the latest batch of Housing Development Investment Program money released by state housing officials.
Projects in Fall River, Lawrence, Lowell, Pittsfield and Taunton totaling 662 new market-rate and income-restricted homes are splitting nearly $15 million, or roughly half of this year’s HDIP allocations.
“HDIP helps close financing gaps on projects that can be difficult to build but have enormous impact for Gateway Cities,” state Housing and Livable Communities Secretary Juana Matias said in a statement. “These six awards will support historic rehabilitation, downtown reinvestment and hundreds of new rental homes in communities that are stepping up to produce more housing.”
The Menkiti Group building, known as the Clark Block, would rehabilitate a 4-story, 19th-century corner office building a block from Worcester City Hall and Worcester’s tallest building, the Synergy-owned Glass Tower. It’s also kitty-corner to WinnDevelopment’s planned 10-story Slater Building office-to-residential conversion. At full build-out, it will have 48 apartments, including five affordable units.
“Worcester has tremendous momentum,” Bo Menkiti, founder and CEO of The Menkiti Group, said in a statement. “We’re pleased to see continued support for projects that create much-needed housing while preserving the character of our downtowns. The Healey-Driscoll administration has made housing production a priority across Massachusetts, and initiatives like HDIP help move important projects forward. We remain committed to investing in Worcester and creating places that contribute to the city’s continued growth.”
Menkiti Group is working its way through redeveloping several historic buildings in downtown Worcester, having completed 526 Main St., 554 Main St. and 6 Chatham St. so far, with the Olympic Lofts at 204 Main St. under construction
The HDIP program’s annual cap was bumped up from $10 million to $30 million by legislation pushed by the Healey administration in 2023. HDIP funding is only available to close gaps in construction financing for largely market-rate housing projects projects in the state’s 26 largely working-class, immigrant-heavy Gateway Cities, where typical rents are often too low to cover the cost of new construction. The program is intended to bring more housing and economic diversity to Gateway Cities’ downtowns.
In addition to the Clark Block, Mattias, Lt. Gov. Kim Driscoll and Senate Ways & Means Chairman Michael Rodrigues announced HDIP awards for five other projects on July 9:
- Durfee Block Apartments, Fall River: $1.5 million to Monte Ferris Jr. to support the adaptive reuse of a historic building in downtown Fall River into 22 rental homes.
- 216 Canal Street, Lawrence: $2.5 million to 216 Canal LLC to support the adaptive reuse of a mill building in Lawrence’s canal district into 99 rental homes.
- Franco American School Phase III, Lowell: $3.2 million to TMI Property Management to support new construction of 80 rental homes and commercial space.
- 24-34 North Park Square Residences, Pittsfield: $4 million to Allegrone Companies to support the adaptive reuse of a historic office building in Pittsfield’s Park Square into 23 rental homes, with street-level retail and a commercial kitchen.
- Whittenton Mill Apartments, Taunton: $3.8 million to Greystar to support the demolition of a former mill and new construction of 390 rental homes.
