Real Estate & Development
MassDevelopment undertakes a wide range of real estate redevelopment projects and provides planning, permitting, and development assistance to communities and businesses to create employment and housing opportunities throughout the state. Staffed by experienced planners, project managers, engineers, financial analysts, asset managers, and real estate development professionals, our real estate division specializes in challenging projects that the private sector is unable or unwilling to pursue.
The Real Estate Division has four departments: Planning and Development, Municipal Services, Asset Management, and Engineering.
Planning and Development
The Planning and Development Department undertakes planning and real estate development projects, often in the state’s neediest communities. Typical projects involve government-owned property and present challenges – environmental contamination, demolition requirements, infrastructure deficiencies, location – that discourage private sector developers. The Agency may serve as the owner/developer or provides project management services such as environmental assessment and remediation, site assembly, planning, permitting and approvals, engineering, construction management, marketing, and property management. Projects include military base reuse, and redevelopment of surplus state, municipal, or federal properties. Project managers track the development of projects during the planning, analyzing, budgeting, financing, scoping, contract-bidding, and project-construction phases. Staff also provide consulting services to cities and towns for community and site planning, site development feasibility, and other real estate matters.
The Municipal Services Department leads the Agency’s efforts to partner with communities by providing them with real estate services and technical assistance, primarily through the state’s expedited permitting program (under M.G.L. Chapter 43D) and the Agency’s predevelopment real estate services initiative to help attract economic development and jobs to municipal and state priority development sites. The department is responsible for identifying and evaluating municipal real estate projects and managing 43D technical assistance and predevelopment services, often drawing on other Real Estate Division departments for particular expertise.
The Asset Management Department is responsible for managing, preserving, and enhancing the value of MassDevelopment’s real estate portfolio. These assets include 100 Cambridge Street in Boston; land and buildings in Devens; the Jodrey State Pier in Gloucester; the Massachusetts Information Technology Center in Chelsea; the SouthCoast Research & Technology Park in Fall River; and 1550 Main Street in Springfield. The department oversees real estate marketing and sales, leasing (both as landlord and tenant), other use and occupancy agreements, and acquisitions.
The Engineering Department provides project-specific professional engineering and Geographic Information System (GIS) services. Engineering has managed projects in the City of Springfield for the development of the Smith and Wesson Industrial Park and the York Street Jail demolition, and provided assistance to the cities of Lynn, New Bedford, and Chicopee for infrastructure and demolition projects.