MassDevelopment

MassDevelopment is accepting applications for our Transformative Development Initiative (TDI) Creative Catalyst Grant, which provides awards of between $20,000-$125,000 to support public-facing projects in select Gateway Cities that advance arts- and culture-based economic development. This program is made possible with support from the Barr Foundation. Learn more and apply: bit.ly/4f4QaHX

MassDevelopment is hiring a Project Engineer. The Project Engineer oversees the entire lifecycle of planning, design, and construction projects. Responsibilities include managing scope, scheduling, budgeting, design review, and construction compliance. Reporting to the Director of Engineering, the Project Engineer manages projects from planning and design through to construction closeout and final acceptance. Projects may involve site/building abatement, demolition, redevelopment, municipal utility construction, stormwater systems, and roadway construction. The role involves both office and field work across the Commonwealth. Learn more and apply: bit.ly/3KGjypS

MassDevelopment has issued a $22.2 million tax-exempt bond on behalf of Walnut Street Phase One 4 LLC to build 80 units of affordable senior housing at 51 Walnut Street in Foxborough, a project developed by a joint venture that includes Affordable Housing and Services Collaborative, Inc., Peabody Properties, Inc., and The Onyx Group. The site, previously owned by the Commonwealth of Massachusetts, was conveyed to the Foxborough Housing Authority in 2017. These units represent the first step in a multi-phase project that will result in the construction of 200 new units of affordable senior housing at the site. All of the 80 one-bedroom units will be rented to households earning up to 60% of the area median income ($68,520 for a one-person household) with 20 units reserved for households earning up to 30% of area median income ($34,260 for a one-person household). Project sponsor Affordable Housing and Services Collaborative, Inc. created a for-profit affiliate, Walnut Street Phase One 4 LLC, for the purposes of facilitating this tax-exempt financing. The tax-exempt bond, purchased by Citizens, helped Walnut Street Phase One 4 LLC achieve a lower cost of capital. In addition to the tax-exempt bonds, MassDevelopment assisted the Massachusetts Executive Office of Housing and Livable Communities with the approval of federal low-income housing tax credits that will provide approximately $15.1 million in equity for the project. Earlier, in 2021-22, MassDevelopment provided Real Estate Services Technical Assistance awards totaling $55,000 to the Town of Foxborough to help the town develop a Request for Proposals (RFP) to find a qualified developer for the site (a parcel of the former Foxborough State Hospital), coordinate with the community, and analyze RFP responses. bit.ly/4cLuT4w Massachusetts Executive Office of Economic Development (EOED)

Athol is seeking a developer to bring a hotel and event space to the North Quabbin Business Park. Through a One Stop Real Estate Services Technical Assistance award, we contracted with house doctor Innes Associates Ltd. to help Athol's Economic Development and Industrial Corporation produce the Request For Proposals (RFP): bit.ly/3W7eCzJ

We’re BIG fans of the BIC’s efforts to advance innovation and tech-focused companies in the Berkshires, and have been proud to help fund the organization’s buildout and operations over the past few years. Learn more about the BIC’s Stage 2 Accelerator Program for startups that is now accepting applications and help spread the word about this opportunity!

Devens has an important military past, present, and future. Next week the community will host The Wall That Heals, a Vietnam Veterans Memorial replica and mobile education center that will be open to visitors. Learn more: bit.ly/4bLa0VF

Want to learn what resources might be available when planning your next capital expenditure project for real estate and equipment? Join us on July 30 for a free, members-only webinar: 'MassDevelopment – Your Financing Partner'! https://lnkd.in/e4Hkvyhn 

The Taunton Development/MassDevelopment Corporation (TD/MDC), real estate investment firm Rhino Capital Advisors, and state and local officials today broke ground on a new state-of-the-art, 180,000-square-foot advanced manufacturing facility located on lot BP2 at the Business Park at Myles Standish in Taunton. In 2022, TD/MDC sold the last two undeveloped, pad-ready lots at the new business park – BP2 (11.25 acres) and BP3 (9.95 acres) – to Rhino Capital for the creation of speculative build-to-lease manufacturing facilities. At the new facility on lot BP2, Rhino Capital aims to attract “tough tech” tenants with building features such as a 32-foot clear height, up to an 8,000-amp power capacity, and five loading docks. Rhino Capital anticipates the facility will support hundreds of new jobs. Construction on the facility is expected to be completed in spring 2025. In 2012, MassDevelopment and the Taunton Development Corporation (TDC) partnered to form a nonprofit development corporation to redevelop the 220-acre site of the former Paul A. Dever State School by expanding the Myles Standish Industrial Park and developing a new business park. With the assistance of MassDevelopment and TDC seed funding, state and federal grant funding, and the city’s approval of District Improvement Financing (DIF), the Business Park at Myles Standish was completed in 2022, with all parcels sold. The public-private partnership completed MEPA permitting and traffic mitigation, demolished and remediated more than one million square feet of vacant buildings, tunnels, and water towers, and constructed new roads and utilities. Eleven new companies have now invested in the new business park, resulting in more than 1.6 million square feet of new development, $158 million in private investment, 1,400 new jobs, and an additional $3.2 million in annual tax revenue to the city of Taunton. bit.ly/3zzZt29

MassDevelopment is hiring an Administrative Assistant. Reporting to the Executive Vice President of Finance Programs, the Administrative Assistant will play a crucial role in supporting our finance programs managers and officers. This position entails engaging with external constituents and internal stakeholders at all levels. The role demands independent judgment to efficiently plan, prioritize, solve problems, and organize daily tasks. Learn more and apply: bit.ly/3KGjypS

Congratulations to the recipients of this year’s Lynnspire grants! Our Transformative Development Initiative (TDI) Creative Cities is helping local partners build a more sustainable arts and culture infrastructure in Lynn through initiatives like this that can continue after our two-year program ends. bit.ly/3xAw07X