Program Creates a Blank Slate for Artists

Massachusetts is home to thousands of “brownfields” – buildings and land that are blighted and hampered by chemical contamination – with many in Gateway Cities. This year marks the 24th anniversary of the launch of a highly successful investment program that’s redeveloped hundreds of these sites.

Hot Property: Mission on Summer

Developers received $3.1 million in financing from MassDevelopment and Bay State Savings Bank for the conversion of a vacant downtown Worcester chapel into affordable housing. 

MassDevelopment Banks on Gateway Cities

As MassDevelopment looks to more aggressively embrace and utilize our land banking authority across Massachusetts for the benefit of residents and businesses, recent projects in Gateway Cities demonstrate our ability to reposition challenging properties.

Hot Property: 1550 Main St.

A pair of developers acquired a former federal courthouse-turned-office building in downtown Springfield from MassDevelopment for $6 million.