Success Stories by Product or Service
Bond Financing
Benjamin Franklin Classical Charter Public School
Benjamin Franklin Classical Charter Public School serves a diverse student population from 12 communities. When the school wanted to build a new, modern facility in Franklin, they turned to MassDevelopment.
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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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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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Devens Recycling Center, LLC
With the proceeds from a tax-exempt bond, Devens Recycling Center built a 90,000-square-foot waste recycling facility and transfer station.
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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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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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Plenus Group
Plenus Group is a family-owned maker of soups, sauces, and gourmet frozen foods. When the company needed more space, MassDevelopment helped them buy, renovate, and expand their leased site in Lowell.
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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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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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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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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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Veritas Preparatory Charter School
Veritas Preparatory Charter School in Springfield provides a rigorous college preparatory education for students from fifth to eighth grade. The school needed financing to purchase its current building.
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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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Loans & Guarantees
Atomic Coffee Roasters
MassDevelopment issued a $350,000 equipment loan for Atomic Coffee Roasters, a family-owned coffee company on Boston’s North Shore.
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Berkley Beer Company, Inc.
MassDevelopment provided a $450,000 equipment loan to Berkley Beer Company, Inc. and an $800,000 construction loan to an affliated real estate holding company.
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Biomedical Research Models, Inc.
Biomedical Research Models, Inc. (BRM) received a $700,000 guaranty from the Emerging Technology Fund which allowed it to hire additional staff and expand their growing operations.
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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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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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City Place
A loan from MassDevelopment helped this developer complete his project and create jobs in a recovering community.
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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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Fusion Optix
MassDevelopment provided a $1.5 million Emerging Technology Fund loan to Fusion Optix, a Woburn company that develops, manufactures, and sells energy-efficient lighting products.
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GTR Manufacturing
With two equipment loans, Brockton based GTR Manufacturing was able to purchase a new punch press, which helped them increase production efficiency and reduce material waste.
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Mansfield Music & Arts Society
The Mansfield Music & Arts Society is a full-fedged arts center providing educational programs in the arts and outdoor studies for local youth.
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Montachusett Opportunity Council
MassDevelopment provided a guarantee to support a $1.2 million Enterprise Bank & Trust loan to Montachusett Opportunity Council for the purchase of its previously leased building.
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MedMinder Systems, Inc.
MassDevelopment has provided a $1.5 million Emerging Technology Fund loan to MedMinder Systems, Inc., a medication management company in Needham.
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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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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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PowerHouse Dynamics
Powerhouse Dynamics develops energy management systems for small businesses and homes.
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Quiet Logistics
MassDevelopment has provided up to $2.5 million in term financing from the Emerging Technology Fund to Scenic Technology Corporation, which does business as Quiet Logistics, a robotic fulfillment-to-consumer provider in Andover.
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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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Vyasa Analytics
Vyasa Analytics received a $1.8 million Emerging Technology Fund loan from MassDevelopment to hire additional employees and build out its infrastructure in Massachusetts.
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Worcester Community Action Council
The Worcester Community Action Council (WCAC) reaches more than 75,000 clients annually with regional programs like fuel assistance, income tax preparation, youth and family services, education, and job assistance.
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Tax Credits
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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High Point Treatment Center
High Point, the largest provider of addiction and mental health treatment in Massachusetts, needed funding to acquire and renovate a 60,000-square-foot facility on a site that had been vacant for more than one decade.
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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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Riverwalk Properties
With help from MassDevelopment, Riverwalk properties provided a space for new tenants who are helping revitalize the city of Lawrence.
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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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Real Estate Services
City of Chicopee - Downtown Urban Design Plan
Chicopee asked MassDevelopment for technical assistance to develop a comprehensive downtown urban design plan.
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City of Taunton - Downtown Plan
MassDevelopment worked with the City of Taunton on an urban design and financial analysis plan that aims to enhance the economic viability of Downtown Taunton.
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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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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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Town of Barnstable
MassDevelopment worked with the Town of Barnstable on a redevelopment study for their downtown/waterfront.
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Town of Canton - Route 138 Corridor Study
MassDevelopment worked with the Town of Canton to develop a renewed vision for the Route 138 Corridor.
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Town of Dracut
The Town of Dracut was interested in bringing a large-scale indoor sports facility to the town, a size unlike any other indoor sports facility in Massachusetts.
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Town of Monroe
Monroe, one of the smallest communities in the Commonwealth, contacted MassDevelopment because the Ramage Paper Mill was at imminent risk of collapsing and falling into the Deerfield River.
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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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Town of Palmer - Village of Three Rivers Revitalization Study
The Town of Palmer needed help crafting a revitalization strategy for its Three Rivers District.
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Town of Sandwich - Marina District Study
MassDevelopment worked with the Town of Sandwich to create a redevelopment plan for the Marina District, which sits on the Cape Cod Canal.
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Town of Shrewsbury - Town Center Study
MassDevelopment worked with the Town of Shrewsbury on a Town Center study focused on Beal School reuse scenarios and strategies to improve streetscape and parking management in the Town Center.
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Town of Wareham - Tremont Nail Factory Redevelopment Strategy
The Town of Wareham engaged MassDevelopment to create a redevelopment strategy for the historic Tremont Nail Factory.
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Town of Winthrop - Centre Business District Master Plan
MassDevelopment worked with the Town of Winthrop to create a vision for its Centre Business District including a market analysis and sample pro formas for the former Winthrop Middle School, a 77,000-square-foot property on the edge of the district.
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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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Transformative Development Initiative
Beyond Walls
Beyond Walls in Lynn raised funds through a Commonwealth Places campaign to add new lighting in the city’s business district and nearby underpasses, a new sculpture, and building-scale murals in Lynn's TDI District.
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Freight Farms
Freight Farms in Holyoke aims to provide students with essential skills in farming, business planning, and sustainability while empowering locals to grow fresh produce year-round for their community.
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Greater Brockton Young Professionals
The organization hosts public networking events and professional development workshops, and has helped plan and implement public projects in Brockton’s TDI District.
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JM Lofts
With the help of MassDevelopment and its Transformative Development Initiative (TDI), a formerly vacant building has been beautifully restored into 18 apartments in downtown Haverhill.
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Make-It Springfield
Make-It Springfield provides space downtown for local makers, artists, entrepreneurs, programmers, students, and enthusiasts to make, create, and share their skills and tools.
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Peabody Pop-up
The development of a pop-up-to-permanent café helped inspire a culture in Peabody of trying varied approaches to activate a space.
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Tyler Street Lab
TDI grants in the amount of $22,250 were awarded to the Tyler Street Lab in Pittsfeld to activate a once-vacant storefront and create space for community members to meet, share ideas, and build the future for the area.
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