Healey-Driscoll Administration Announces Largest Housing Development Incentive Awards in Program History
“This funding boost helps us do even more to address our
housing needs now,” said Lieutenant Governor Driscoll. “In approving all of
these projects, we’re able to make a big impact to cities across the state as
we work to make Massachusetts more affordable for everyone.”
HDIP is a tool for the state’s Gateway Cities to create more
market rate housing to support economic development, expand diversity of
housing stock and create more vibrant neighborhoods.
“These projects are a direct result of the governor’s tax
relief bill,” said Housing and Livable Communities Secretary Augustus. “Our
vacancy rate is at an all time low, and these awards will create much needed
multi-family housing across our state. We look forward to continuing to work
with the legislature to pass the Affordable Homes Act this year to create
much-needed housing across all income levels in the state.”
"I am thrilled to welcome the announcement of tax
credits for market-rate housing development through the Housing Development
Incentive Program (HDIP). This initiative will significantly benefit our
community, particularly through the development of the Hildreth Building and
Isobel Lofts,” said Lowell Mayor Daniel P. Rourke. “We are grateful to Governor
Healey and her administration for their commitment to addressing housing needs
and fostering economic growth in our city."
“Today’s announcement of the first 2024 HDIP awards marks a
significant step forward in addressing economic development in Lowell's central
business district,” said Lowell City Manager Thomas A. Golden, Jr. “We are
proud to collaborate with Governor Healey and the Healey-Driscoll
Administration in this effort. The HDIP program is a vital tool for cities like
Lowell, fostering residential growth, economic development, and neighborhood
stabilization. The Hildreth Building and Isobel Lofts projects will provide 76
new residential units. This development is an exemplary model of what can be
achieved through state and local partnerships, and we are excited to see the
positive impact these developments will have on our community.”
Below are the thirteen awardees:
Linnell Landing – Barnstable
· Sponsor: Jacob Dewey of CCR Holdings
· HDIP award: $690,000
· Total units: 15
Ringside Residences –Brockton
· Sponsor: Joseph Goncalves of New Vision Enterprises
· HDIP award: $2,500,000
· Total units: 50
Sacred Heart Lofts – Fall River
· Sponsor: Charles Haijar of Hajjar Management Company
· HDIP award: $2,500,000
· Total units: 36
Union Belt Company Lofts – Fall River
· Sponsor: Anthony Cordeiro of Downtown Development.
· HDIP award: $2,500,000
· Total units: 46
Franklin Block – Haverhill
· Sponsor: Jonathon Cody of AtlanticInvestments
· HDIP award: $1,300,000
· Total units: 21
Wrights Block – Holyoke
· Sponsor: Bill Womeldorf of Urbanist Development
· HDIP award: $2,000,000
· Total units: 19
The JAV – Lawrence
· Sponsor: Johan Lopez of Jowamar Companies LLC
· HDIP award: $2,200,000
· Total units: 24
Hildreth Building – Lowell
· Sponsor: David Steinberg of RCG LLC
· HDIP award: $2,500,000
· Total units: 50
Isobel Lofts – Lowell
· Sponsor: Justin McFarlane of Nine Zero Two Development
· HDIP award: $2,000,000
· Total units: 26
Wright Building Block – Pittsfield
· Sponsor: A.C. Enterprises of Lou Allegrone
Phase 1:
· HDIP award: $2,581,672
· Total units: 21
Phase 2:
· HDIP award: $1,518,014
· Total units: 14
5 Broad Street – Salem
· Sponsor: Bill Luster of Charing Cross Realty
· HDIP award: $1,500,000
· Total units: 16
Parsons Apartments – Springfield
· Sponsor: Joyna Filippides of Davenport Advisors
· HDIP award: $630,000
· Total units: 11
Chestnut Place Office Conversion – Worcester
· Sponsor: David Greaney of Synergy
· HDIP award: $2,500,000
· Total units: 198
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