With the help of MassDevelopment and its Transformative Development Initiative (TDI), a formerly vacant building has been beautifully restored into 18 apartments with three new businesses in downtown Haverhill.
Prior to designating Haverhill a TDI District, MassDevelopment facilitated a development tour of the city, during which Traggorth Companies was able to locate and finance a catalytic redevelopment project: a vacant, blighted building on Washington Street in the heart of downtown. After designation, Traggorth Companies worked closely with TDI Fellow Noah Koretz, to troubleshoot development issues, bring the project to fruition, and secure culturally relevant, highly stimulating first-floor uses in an environment where, in the past, creating active retail space had been difficult.
The end result is the new JM Lofts, a mixed-use development featuring 18 market-rate apartments and three new retail uses downtown, each of which has been connected to various aspects of TDI District work, all helping to activate the street with additional pedestrian traffic:
The building is a beacon in downtown Haverhill, and has set the market for downtown housing and active, amenity-rich retail. Because of its success, Traggorth Companies has recently broken ground on rehabilitating another vacant building several blocks away at 87 Washington Street, with MassDevelopment providing permanent financing for the project. Even though Haverhill has “graduated” from TDI, the program helped catalyze a sustainable and lasting revitalization, and Traggorth Companies is now serving as a partner in a more recently designated TDI district in Chelsea.