Dan Rivera Resigns from MassDevelopment
The head of a top state quasi-public development finance agency has turned in his resignation, effective immediately.
Eastern Bank, MassDevelopment Fund Chelsea Housing
A Chelsea affordable housing development is securing site control thanks to Eastern Bank and MassDevelopment.
GFI Partners Set to Tee Off 200K SF Development
Boston-based developer GFI Partners plans to develop 200,000 square feet of commercial space at the former Grafton State Hospital after completing an acquisition from MassDevelopment.
Personnel File – No. 359
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s The Personnel File.
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.
Perseverance Pays Off in Fitchburg for Nonprofit Developer
The new Fitchburg Arts Community demonstrates a potential playbook for successful financing of housing through public subsidies in Massachusetts’ Gateway Cities.
Hot Property: Baldwinville School Apartments
Recent funding awards from state and local sources will contribute to development of Templeton’s first multi-family housing development in a quarter-century.
Food Hall to Anchor Downtown Lawrence Development
A Methuen development firm will use financing from Reading Cooperative Bank and MassDevelopment to construct housing and a food hall in a downtown Lawrence project set to begin next month.
Office-to-Apartments Conversion Financed in Haverhill
Financing from Newburyport Bank and MassDevelopment will convert a downtown Haverhill building’s upper floors into housing while retaining its existing retail tenants.
Newton Project for Middle-Income Seniors Funded
A project that received $129 million in MassDevelopment bond financing is designed to deliver a rare middle-income housing option for senior citizens in Newton.
Attleboro Mill Gets Financing for Apartment Conversion
A developer will put $11.3 million in financing from HarborOne Bank and MassDevelopment to work in converting a blighted Attleboro mill property into market-rate housing.
Holyoke Properties Get Financing from MassDevelopment
Tax-exempt financing from MassDevelopment will enable a Holyoke community action agency to preserve a two-building portfolio of affordable apartments.
Smart Textile Manufacturer to Buy Lynn Property for Expansion
A vacant industrial building in Lynn will be updated to become the new home of a manufacturer that supplies heated gloves and boots to the U.S. military.
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.
Table Talk Project Lands $20M in State Help
A multifamily development in Worcester’s blossoming Canal District has secured a big, additional segment of its capital stack thanks to a tax-exempt bond from MassDevelopment.
MassDevelopment Adds Three Years to CEO Rivera’s Contract
The state’s economic development finance agency board has extended the contract of its top official to keep the Gov. Charlie Baker appointee in place through most of Gov.-elect Maura Healey’s term.
Conversion Creates Rental Housing in Downtown Gardner
A $2.9 million loan by Fidelity Bank and subsidies from state agencies will enable a developer to refurbish a pair of vacant downtown Gardner buildings into 29 market-rate apartments.
Housing Going Up At Former Hyannis Nursing Home Site
The state’s economic development agency has partnered with BankFive to provide nearly $12 million in loan financing to developers who plan to build a 53-unit mixed-income apartment complex in Hyannis.
