MassDevelopment helps cities and towns revitalize, develop, and transform. Thanks to our financing programs and real estate technical assistance services, we have the expertise to take on your most challenging projects.
Real Estate Planning and Development Services
At MassDevelopment, we can provide technical assistance to supplement local resources in the following areas:
- Market feasibility analysis
- Site planning
- Consulting services, including construction oversight, infrastructure design, and brownfields oversight
- 43D Priority Development Sites
- Urban Land Institute Technical Assistance Panels
- Strategic analysis and consensus building
- Permitting/approvals process management
- Project management
- Financial analysis
- Selection and management of consultants
- RFP development/process management
Site Readiness Program
The Site Readiness Program aims to boost the Commonwealth’s inventory of large, well-located, project-ready sites; accelerate private-sector investment in industrial and commercial projects; and support the conversion of abandoned sites and obsolete facilities into clean, actively-used, tax-generating properties.
The Brownfields Redevelopment Fund
This fund provides up to $100,000 for assessment of brownfields properties in Economically Distressed Areas (EDAs). You can also get loans with flexible terms up to $500,000 to clean up contaminated sites.
These are low interest rate loans up to $100,000 with deferred repayment terms to finance predevelopment real estate projects. Government facility projects are ineligible, and governmental entities must be authorized to enter into a loan agreement with MassDevelopment.
Real Estate Financing
Tax-Exempt Bonds for Special Projects
MassDevelopment wants to keep your borrowing costs lower. We issue tax-exempt bonds for real estate and equipment projects that are particularly challenging, or not financed by General Obligation Bonds.
Tax-Exempt Bonds for Public Infrastructure
Maintaining public infrastructure is critical for our state. We issue tax-exempt bonds for improvements to roadways, sidewalks, parks, parking garages, bridges, tunnels, wharves, and a range of public facilities. Infrastructure programs that use our tax-exempt financing include:
- Infrastructure Investment Incentive Act (I-Cubed or I3)
- District Improvement Financing (DIF)
- Special assessments
Real Estate Loans for Municipal Economic Development Agencies
We offer loans and bank loan participations up to $7,500,000 for facility acquisition, renovation, construction, expansion, and permanent financing.
MassDevelopment's Commonwealth Places program provides a 50-50 match up to $50,000 for crowdfunded donations to support placemaking projects throughout Massachusetts.
Massachusetts Cultural Facilities Fund
MassDevelopment supports the arts with capital grants for the acquisition, design, renovation, and construction of cultural facilities. We also offer grants for development studies. Both MassDevelopment and the Massachusetts Cultural Council administer this fund.