Six new projects approved by the Healey-Driscoll administration will bring over 800 new homes to gateway cities across the Commonwealth.
Housing Development Incentive Program (HDIP) awards totalling $15 million will fund the development projects.
The projects are all located in gateway cities, mid-sized urban hubs designated by the state legislature for their revitalization potential. Currently, there are 26 gateway cities in the state.
The approved projects include:
Bedford Street Lofts
Located in Fall River, this development will use $2,500,000 in HDIP funding to create 52 housing units. Downtown Development’s Anthony Cordeiro is sponsoring the project.
533 Main Street
Sponsored by the Tocci Group, this project will bring 17 homes to Fitchburg. The project received $1,000,000 in HDIP funds.
District Square
This Haverhill development will add over 120 homes using $3,000,000 from HDIP. Lupoli Companies, led by Sal Lupoli, founder of Sal’s Pizza, was named as the project’s sponsor.
484 Merrimack
Located in Lowell, this project received $1,300,000 in HDIP funding. Sponsor Patrick Tighe of New Royal, LLC plans to develop 24 homes.
Portico 1 and 2
These Revere projects will create over 470 units of housing at the former Suffolk Downs site. Sponsor the HYM Investment Group received $5,000,000 in HDIP awards for the developments.
17 Pearl
Sponsored by HHM Cube Properties, this Worcester development will include nearly 140 housing units. The project was awarded $2,000,000 in HDIP funds.
“People in Massachusetts are excited to build a life, a career, and a family in our great state, and we know they need reasonably-priced housing options that help them achieve those goals,” said Lieutenant Governor Kim Driscoll in a press release. “By supporting these exciting projects in six Massachusetts cities, we’re strengthening our communities, creating more affordable housing, and building a brighter future for us all.”
“HDIP is one of the most effective tools we have to spur market-rate housing development in Gateway Cities. The developments receiving awards today not only create more homes, they are also transformative – restoring pride and helping create the type of neighborhoods where people aspire to live,” added Ed Augustus, secretary of the Executive Office of Housing and Livable Communities.