Fire-Damaged Westfield Property to Receive $28M Renovation
A 248-unit Westfield multifamily complex that was damaged in a 2018 fire will receive financing from MassHousing, enabling a nonprofit developer to begin a $28-million renovation project.
Lawrence Mayor Rivera Picked For Top MassDevelopment Job
Lawrence Mayor Dan Rivera, a Democrat and ally of Gov. Charlie Baker’s, will be nominated by the governor on Thursday to become the next CEO of MassDevelopment, according to two sources familiar with the decision.
King Street Begins First Phase of 700K SF Devens Project
After acquiring 45 acres of development sites at the Devens business park, Boston-based King Street Properties has broken ground on its first biomanufacturing facility.
Developer Begins Downtown Haverhill Housing Project
A $2 million loan from MassDevelopment will support conversion of a vacant downtown Haverhill building into market-rate housing and retail space.
TD Bank, MassDevelopment Finance Lancaster School Updates
A $17 million tax-exempt bond from MassDevelopment will pay for construction of a new middle school and student residence hall at the Doctor Franklin Perkins School in Lancaster and construction of a new arts wing at the school’s Janeway Education Center.
MassDevelopment President Liss Leaving at End of 2020
The state’s quasi-public development agency MassDevelopment will soon be in need of new leadership with CEO Lauren Liss preparing to step down at the end of the year after three years at the helm.
State Makes $3M Available for Commercial Sites Prep
Developers and public entities can tap into $3 million in funding for site preparation in the latest round of the state’s Site Readiness Program, which provides funding for land acquisition and soft costs related to projects.
Life Science Developer Formulates Devens Plans
In what was Devens’ largest land transaction in many years, MassDevelopment recently sold 36.8 acres to an affiliate of King Street Properties, a prominent developer of life science real estate. The company’s solid record of accomplishment presents a rich opportunity for further job growt.
Hot Property: Cox Engineering Randolph
Rockland Trust Co. purchased a $3.68 million tax-exempt bond issued by MassDevelopment that will finance an expansion of Cox Engineering Co.’s Randolph manufacturing facility.
Framingham Multifamily Project Lands $47M Loan
A proposal to convert a former shoe factory in Framingham to 258 market-rate and affordable apartments has landed construction financing.
Randolph Company to Expand HVAC Operations
A 106-year-old Randolph-based engineering company is again turning to state-issued tax-exempt bonds to increase its production capabilities.
State $100K Coworking Grants Up for Grabs
Grants of up to $100,000 to plan, develop and build out collaborative workspaces are up for grabs again under a program that has dished out $8.4 million to 136 applicants during its first four rounds of activity.
Roxbury Affordable Project Lands Permanent Loan
An $18 million, 49-unit affordable housing development in Roxbury has secured permanent financing from the Massachusetts Housing Partnership in the midst of the COVID-19 pandemic.
TD Bank Bond Purchase to Fund Addition to Angell Animal Medical Center
TD Bank has purchased an $18 million MassDevelopment bond that will fund an addition to the Angell Animal Medical Center in Boston.
Others Can Learn from Gateway Cities’ Formula for Success
Gateway Cities hold tremendous promise as regional economic anchors. Early successes in Gateway Cities can guide other communities across the commonwealth as they strive to achieve local economic development priorities.
Help for Gateway Cities’ Retail Environments
In Gateway Cities, retail vacancy presents a major challenge. Older buildings lack modern infrastructure and rarely conform to current codes. Convincing building owners to make costly upgrades is difficult. Fortunately, Massachusetts has little-known tools that are just right for this job.
Creative Placemaking Changes the Ways We Activate Communities
The most successful placemaking projects are those that respond to the existing needs of a community rather than imposing an outside solution or vision of what the community needs or should be.
Financing for Fresher Lettuce
As a longtime operator of agribusinesses, Paul Sellew recognized a need for
better quality lettuce in New England. He turned to Bank of America for an
$18 million loan to take advantage of that opportunity.
Lynn Mural Group Launches Campaign to Build New Waterside Park
A Lynn public art group is teaming up with the state’s development agency to fund a new, temporary waterfront park between the city’s ferry terminal and the Lynnway.
Skating Club Breaks Ground On $37M Norwood Facility
Groundbreaking is scheduled today for The Skating Club of Boston’s $37 million new training facility, as the 107-year-old organization prepares to relocate from Allston to Norwood.
