Page 10 - Housing Development Incentive Program News Today

Chamber: Expanding developer incentive programs will address Worcesters housing crisis

Construction is underway to convert the vacant former rooming house at 41 Summer St. in Leominster into 21 market-rate rental housing units.

Downtown Fitchburg has struggled to attract new growth when so many people are following jobs to more prosperous areas or finding affordable areas elsewhere. It only compounds the problem when residents looking to buy a home downtown are the least likely to be able to be approved for a mortgage of any neighborhood in Worcester County.

Danielle Ray Correspondent An old mill building on Summer Street in Leominster has been converted into a 36-apartment building, giving new life to a space that sat vacant for 10 years before the large-scale renovation began in 2019. Developer Dan Botwinik of Cougar Capital was able to transform the property at 45 Summer St. into what it is today by working with the City of Leominster and Commonwealth to leverage a variety of tax credits and incentives. “Without the Housing Development Incenti...

By John Lee Grant | Little River dam and falls at Winter Street in Haverhill. (WHAV News photograph.) The Haverhill City Council last night agreed to expand the city’s Housing Development Incentive Zone, a move that has the potential to bring more market rate housing into the downtown area. The existing zone was developed back in 2013 under the state’s Housing Development Incentive Program, which provides tax incentives to developers who undertake new construction or substantial rehabilita...

Lawmakers passed the economic development bill early Wednesday in the final hours of the two-year legislative session.