Project Category: Substantial Improvement Property
A 200,000 sf transit oriented, ground up, mixed-use residential/commercial development project in the center of Downtown Brockton, Massachusetts, two blocks to the MBTA train station into South Station- Boston (35 min.)
Project Qualification: Substantial Improvement PropertyReal Estate:
Total Capital Required: $40,000,000Equity Required: $10,000,000Debt Required: $30,000,000Project Control: We have agreement on terms to acquire the key propertyTimeline: 90-180 daysAddress: 141 Main Street Brockton Massachusetts 02301 United States
Strong private and local government support for TOD projects in this "Gateway" city makes this project the perfect Opportunity Zone development project. There is continuing demand for market rate and workforce housing in the metro Boston area to support the tremendous business growth in the CBD , Back Bay and Seaport areas in Boston.
The site will support a 5-story building with as many as 180 residential units along with ground floor retail and/or office space. There is an adjacent parking garage and surface parking lot that can be folded into the development.
A streamlined review process will facilitate immediate timing for this development project.
Over $100 million has already been invested in this urban revitalization district. This project is located within the City of Brockton's 40R Smart Growth Overlay District, Housing Development Initiative Program (HDIP) District, and District Improvement Financing (DIF) Boundary.