Station Lofts, Brockton
Capstone Communities is helping revitalize downtown Brockton. The real estate development company needed financing to transform a historic industrial building near an MBTA commuter rail stop into residential loft space. MassDevelopment provided both a $1.1 million loan from the Brownfields Redevelopment Fund and a $4.8 million tax-exempt bond. This financing is helping create 25 mixed-income apartments and put Brockton on a path to prosperity. Station Lofts will preserve its historic character while serving as a catalyst for more economic development in downtown Brockton. The project is expected to create 46 construction jobs.