For-profit multifamily developers that have shied away from Massachusetts’ Gateway Cities because their rents didn’t support the cost of new construction are betting on Worcester’s economic and population growth to push projects across the finish line.
With its biotech incubators nearly full and biomanufacturing developers building out new production facilities, Worcester is looking to fill the missing link in its life science ecosystem.
Worcester officials say a planned five-building development accompanying the under-construction Polar Park AAA baseball stadium will be delayed by a year or more and will lose about half its hotel rooms.
With construction costs at the new Worcester Red Sox stadium and its surrounding six-building redevelopment project rising, City Manager Ed Augustus is asking for the city to OK tweaks to the public financing package.
With construction activities ramping up around the planned new ballpark and mixed-use developments in Worcester’s Canal District, a key contract has been awarded that will let the projects move forward.
Developer Madison Properties of Boston has formed a joint venture with California private equity firm Whitman Peterson for a 235-room dual-brand hotel planned at 369 Washington St.
A Miami developer has begun mobilizing construction equipment at the site of a planned 414-unit apartment complex on a long-vacant parcel in Boston’s Seaport District.
