MassDevelopment

Success Stories by Industry

Businesses

Gloucester Marine Railway

Gloucester Marine Railway is the oldest continuously operating shipyard in the country. An integral part of the city’s fishing industry, it needed funding to modernize a pier essential to its operations.
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Little Leaf Farms

Little Leaf Farms has taken root and is growing in Devens thanks to a $4.5 million loan and Devens land sale.
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Notch Brewing

MassDevelopment financing helped Notch Brewing buy a new brewing system and brewing tanks for its taproom near Salem’s Pickering Wharf.
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PowerHouse Dynamics

Powerhouse Dynamics develops energy management systems for small businesses and homes.
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Tree House Brewing Company

MassDevelopment issued a $7,740,000 tax-exempt bond on behalf of Monson-based Tree House Brewing Company, helping finance the company’s new brew house.
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Lexington Medical

Lexington Medical Inc. manufactures medical devices used specifically for abdominal surgery.
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Developers

City Place

A loan from MassDevelopment helped this developer complete his project and create jobs in a recovering community.
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Myles Standish Industrial Park

The expansion of Myles Standish Industrial Park will result in thousands of new jobs and millions of dollars in additional tax revenue for the City of Taunton.
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Pepperell Place

MassDevelopment provided a $2.25 million loan to Lexvest Chapel LLC to redevelop office and industrial space at 20 Mill Street in Pepperell.
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Riverwalk Properties

Riverwalk Properties provided a space for new tenants who are helping revitalize the city of Lawrence.
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Station Lofts, Brockton

Capstone Communities needed financing to transform a historic industrial building near an MBTA commuter rail stop into residential loft space in downtown Brockton.
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The Neighborhood Developers

MassDevelopment issued a $5.8 million tax-exempt bond on behalf of The Neighborhood Developers to help preserve, renovate, and build 52 affordable housing units in Chelsea and Revere.
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Worcester T&G Building

The historic Telegram & Gazette building is now home to Quinsigamond Community College, where students prepare for the future and spur economic development in the heart of downtown Worcester.
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Housing

Amesbury, Lynn and Lowell

New housing units were needed in Amesbury, Lynn, and Lowell. MassDevelopment had both the financing and real estate expertise to construct and convert buildings into 114 housing units.
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Bradstreet Partners LLC

Financing from MassDevelopment will help Bradstreet Partners, LLC transform an underused property in downtown North Andover into a vibrant hub of retail and residential activity.
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D'Youville Life & Wellness Community

D’Youville Life & Wellness Community built a 60-unit affordable assisted living facility in Lowell.
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New Verdean LLC

A MassDevelopment bond financed the renovation of New Bedford’s Verdean Gardens, a 110-unit multifamily rental housing facility in New Bedford with 56 affordable housing units.
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Ships Cove Preservation Partners

MassDevelopment issued a tax-exempt bond to help a developer preserve and renovate 201 affordable housing units in Fall River.
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The Lofts at City Place

MassDevelopment provided a $5 million loan to convert an abandoned 88,000-square-foot former mill building into 51 much-needed housing units and 10,000 square feet of commercial space in downtown Leominster.
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Manufacturers

Berkshire Sterile Manufacturing

The biopharma start-up turned to MassDevelopment for financing to buy and renovate a 116,000-square-foot building in Lee and acquire new drug manufacturing equipment.
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Cumar

Cumar is one of New England’s leading manufacturers of fine architectural stone. The company wanted to expand its Everett manufacturing facility but lacked adequate resources.
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DAHlicious

Yogurt manufacturer DAHlicious was able to move into and equip a 5,000-square-foot facility in Leominster.
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Fancypants Baking Company

Fancypants Bakery makes specialized cookies for clients like Whole Foods and SuperTarget. To take advantage of exploding demand, the company needed a larger space and new equipment.
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Greentown Labs

With assistance from MassDevelopment, Somerville’s Greentown Labs expanded its ability to create and support relationships between startup companies and local manufacturers.
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Jacqueline’s Gourmet Cookies

Ready to expand, this Salem bakery needed funds to purchase equipment and make improvements.
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N12 Technologies

N12 Technologies produces carbon nanotubes, an advanced material used in aerospace, automobiles, and sporting goods.
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Pro Pel Plastech, Inc.

Providing recycled plastic for plastics manufacturers throughout New England, Pro Pel needed a loan to install a solar panel system on the roof of its manufacturing facility.
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Southbridge Associates, LLC

Southbridge Associates owns the Southbridge Business Center and needed funds to refurbish a building for a growing tenant.
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Valley Venture Mentors

A Manufacturing Futures Fund grant allowed a Springfield-based incubator to launch a professional training program for Massachusetts manufacturers.
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Municipalities

Apollinaire Theatre Company

A grant from MassDevelopment’s TDI Cowork Program helped the Apollinaire Theater Company fit out storefront space, revitalizing Chelsea’s creative economy.
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City of Gardner

MassDevelopment provided $490,475 from the Brownfields Redevelopment Fund to rehabilitate the former Orpheum Theater Block, which Gardner city officials had identified as a priority for redevelopment in the city’s 2011 Downtown Urban Renewal Plan.
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City of Holyoke

Aegis Energy Services, a local manufacturer, will expand its operations on the rehabilitated site of a former paper factory in Holyoke.
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City of New Bedford

MassDevelopment partnered with New Bedford to produce a baseline economic assessment and strategic development plan for the city’s downtown.
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Dudley Greenville LLC

Dudley Greenville LLC is using tax-exempt financing to build affordable, multifamily housing in Roxbury’s Dudley Square.
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Malden / Everett TAP

Malden and Everett needed to figure out how to overcome industrial mixed-use development issues and launch economic growth.
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Nokode Holdings

A predevelopment loan to Nokode Holdings for architectural and engineering studies led to a mill renovation in Lowell.
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Northeast Arc

An innovative new café in Peabody’s Transformative Development District is creating jobs for people with physical and intellectual challenges, thanks to a TDI placemaking grant.
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Town of Orange

MassDevelopment partnered with the civic crowdfunding platform Patronicity to provide a matching grant to the Town of Orange to build a pocket park.
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Village Hill Northampton

MassDevelopment continues to oversee the development of Village Hill Northampton, a 126-acre master-planned community based on New Urbanist principles.
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Nonprofits

Cape Abilities

Cape Abilities, a human services nonprofit in Hyannis, provides individuals with disabilities with job placement, training, life skills, and residential programming. Using MassDevelopment loan funds, the agency was able to buy and renovate a group home in Barnstable.
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The College of Our Lady of the Elms

The College needed funds to build a 22,000-square-foot facility, renovate an administrative building, and refinance an existing bond.
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Dean College

To accommodate its growing student body, Dean College turned to MassDevelopment for assistance to create more housing and retail space.
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The Dimock Center

MassDevelopment provided Boston’s Dimock Center with an $11 million New Markets Tax Credit allocation to finance the renovation of its detoxification center for alcohol and substance abuse recovery. The renovation will add 12 beds to the Center and allow it to serve 1,000 more clients annually.
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Harbor Health Services

Harbor Health Services used a $12,940,540 MassDevelopment financing package to transform a former temple building in Brockton into a 27,000-square-foot space for the organization’s Program of All-Inclusive Care for Elders.
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Holyoke Medical Center

MassDevelopment issued a $15 million tax-exempt bond and provided a $10 million New Markets Tax Credit allocation to help finance a two-story addition to Holyoke Medical Center (HMC). HMC estimated the project would create 25 permanent jobs and 70 construction jobs.
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Merrimack Valley YMCA, Inc.

MassDevelopment helped the Merrimack Valley YMCA double the size of its Andover facility for new health programs and equipment.
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Sturgis Charter Public School

Ranked #1 in the state, Sturgis Charter Public School needed financing to build a second facility to meet growing student demand but could not get more help from its bank alone.
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The Home for Little Wanderers

The Home for Little Wanderers offers vital services to help vulnerable families and children and needed a low-cost way to expand its campus in Walpole, fund new programs, and hire new teachers.
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William James College

MassDevelopment issued an $18.4 million tax-exempt bond on behalf of William James College in Newton, allowing the college to expand its campus and create 15 permanent jobs.
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