The Arc of Opportunity in Fitchburg to Finish Renovations Thanks to New MassDevelopment Loan
April 11, 2012
MassDevelopment has provided a $1 million real estate loan to The Arc of Opportunity in North Central Massachusetts, a Fitchburg-based civil rights agency that provides advocacy, education, employment, residential care, and vocational and recreational services to individuals with disabilities and their families. The organization will use proceeds of the new loan to fund the last stage of renovations to its primary program and administrative space located at 535-564 Main Street in Fitchburg. The renovations are part of multi-year project that has been financed to date through private gifts and capital campaign donations of more than $4 million.
“Even with a new name, the Arc of Opportunity keeps helping individuals with disabilities and their families reach their fullest potential,” said MassDevelopment President and CEO Marty Jones. “Over the last eight years, the organization has worked hard to make this dream a reality. MassDevelopment is pleased to put into place the last piece of The Arc's puzzle.”
In 1999, the Alliance for Resource Management was formed to merge Matson Community Services and Arc Community Services, which combined the expertise, service and knowledge of both agencies. Both Matson and Arc were well known within their service community; however, operating under three different names became increasingly confusing in the public’s eye. Through the strategic planning process in 2010, it was determined that the agency must consider unifying the three agencies under one name to eliminate confusion and maximize their impact in the community. In 2012, the organization announced that the three agencies would become united under one name â€“ The Arc of Opportunity in North Central Massachusetts â€“ to maximize their impact and community presence.
“The Arc of Opportunity has a proud and vibrant 60-year history of offering supports to people with disabilities. Completing the renovation of our building with the loan from MassDevelopment will allow us to offer even more supports and opportunities,” said Mary Heafy, President and CEO.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2011, MassDevelopment financed or managed more than 300 projects generating investment of $3.8 billion in the Massachusetts economy. These projects are projected to create more than 10,000 jobs (2,547 permanent and 8,129 construction), and build or rehabilitate more than 1,000 residential units.