MassDevelopment provides financing for commercial real estate projects at every stage of development from predevelopment through construction and fit-up.
Predevelopment Financing
The Brownfields Redevelopment Fund
The Brownfields Redevelopment Fund provides financing up to $100,000 for qualified projects to undertake environmental site assessment of brownfields properties located in Economically Distressed Areas (EDAs) of Massachusetts and loans with flexible terms up to $500,000 to clean-up contaminated sites.
Predevelopment Loans
Predevelopment loans are low interest rate loans up to $50,000 with deferred repayment terms to finance predevelopment costs associated with real estate projects.
Commercial Real Estate Financing
Real Estate Loans
MassDevelopment makes loans and loan participations up to $5,000,000 for facility acquisition, renovation, construction, and permanent financing.
Mortgage Insurance Guarantees
MassDevelopment can issue a guarantee to your bank; the guarantee allows your bank to offer a higher advance rate on a real estate loan.
Tax-Exempt Bonds in Recovery Zones
Under the federal American Reinvestment and Recovery Act (Stimulus Bill) of 2009, MassDevelopment can issue tax-exempt bonds during 2009 and 2010 to finance projects in designated Recovery Zones. Contact MassDevelopment to find out if your project is located in a Recovery Zone.
