MassDevelopment.com: Press Room: MassDevelopment Names Priority Project Communities: Boston, Great Barrington, Lynn, New Bedford, North Brookfield Sites Eligible For Up To $2 Million Each

MassDevelopment Names Priority Project Communities: Boston, Great Barrington, Lynn, New Bedford, North Brookfield Sites Eligible For Up To $2 Million Each
November 13, 2006

Contact:
Adam Bickelman, MassDevelopment, 617-330-2086

MassDevelopment today announced that five communities have been designated to receive low-cost loans of up to $2 million under the agency’s new Brownfields Priority Project Program (P-cubed). Designated P-cubed sites are located in Boston, Great Barrington, Lynn, New Bedford and North Brookfield.

Created in August, the Priority Project Program targets high impact parcels in which a developer has already expressed interest, and where reuse would be viable but for environmental contamination. The selected communities are eligible for up to $2 million in low-interest brownfields remediation funding, $1.5 million more than the $500,000 available under standard program rules. To support the program, MassDevelopment allocated $10 million of $30 million in new funds authorized for brownfields assessment and clean-up by the state legislature in last summer's Economic Stimulus Bill.

"Brownfields often occupy key locations in communities," said Robert L. Culver, MassDevelopment president/CEO. "They frequently lie in or near employment centers, transportation hubs and downtown business districts. These high impact sites can be trigger points for revitalizing entire districts, but often need an extra boost to get them clean enough for development. P-cubed is intended to identify high impact sites and help communities turn them around."

Descriptions of the selected applicant projects follow:

The City of Boston, Department of Neighborhood Development, "Boston East": The city-owned, 14-acre site is located at 102-148 Border Street, overlooking the Charlestown Navy Yard and Boston Harbor, and once housed the Donald McKay Shipyard and other shipbuilding enterprises. City officials recently issued a Request for Proposals and will select a developer in the coming months.

The Town of Great Barrington, Community Development Corporation of South Berkshire: The eight-acre site located at 100 Bridge Street is situated on the eastern bank of the Housatonic River, two blocks from Main Street in downtown Great Barrington. In 1971, New England Log Homes bought the site, first developed as a textile mill in 1874, and manufactured log home components. In 2000, a fire destroyed all of the primary mill buildings. Great Barrington and CDC officials plan to partner with a for-profit developer to construct a mixed-use project after remediation work is finished.

The City of Lynn, 500 Boston Street in West Lynn: The .6-acre city-owned parcel once housed the Carr Leather Factory, an operating tannery from the late 1800s until 1995. The property is located near downtown Lynn and zoned for heavy industrial use. The City hopes to attract commercial development to the site, as outlined in Lynn’s economic development plan.

The City of New Bedford, New Bedford Business Park, 241 Duchaine Boulevard: The 8.01-acre city-owned parcel formerly housed Polyply, Inc., a manufacturer of composite fiberglass boards in the 1990s. The site is zoned for industrial use. When remediation is complete, the City will seek buyers.

The Town of North Brookfield, Lot 34A School Street: The 5.9-acre, town-owned parcel in the heart of downtown North Brookfield was occupied by asbestos-manufacturer Aztec Industries for more than 60 years until the company went bankrupt in 1985. The site is zoned for industrial use. Post remediation, Town officials will seek a private developer to construct a new industrial facility to attract new commercial tenants to North Brookfield.

"Since 1999, MassDevelopment has issued 426 assessment or remediation awards to support projects in more than 90 communities," said Vivien Li, chairperson of the Brownfields Advisory Group and executive director of The Boston Harbor Association. "These modest investments are supporting the creation of more than 4,850 new housing units, 3,500 new jobs, and a better environment. This new program will help support innovative projects around the state while improving the quality of life in a number of communities."

MassDevelopment, the state’s finance and development authority, works with businesses, financial institutions and local officials to stimulate economic growth across the Commonwealth. Between FY 2004 and FY 2006, MassDevelopment financed or managed 589 projects statewide representing an investment of more than $4 billion in the Massachusetts economy. These projects are supporting the creation of 5,505 housing units and more than 23,000 jobs: 12,381 permanent and 10,679 construction-related.