Massachusetts Gov. Maura Healey announced $330 million for 403 local economic development and housing projects in 207 communities across the commonwealth through the Community One Stop for Growth. The awards will support more than 27,000 new homes, more than 13,000 permanent jobs, and more than seven million square feet of new commercial development, while helping unlock an estimated $24.6 billion in private investment. This is the largest amount of One Stop funding issued in a single round in the history of the program.
“We’re investing in communities across Massachusetts to create the housing, jobs and economic growth our state needs,” said Healey. “These awards will turn underused properties into new homes and businesses, strengthen downtowns, create good jobs and unlock billions of dollars in private investment. That means more opportunity for families, workers and businesses in every part of our state.”
Of the projects receiving awards, 36% are in a rural community, 24% in Gateway Cities, 37% in Housing Choice Communities, and 50% are in MBTA Communities. Thirteen communities are receiving a grant through the One Stop for the first time.
Marcus & Millichap has finalized the sale of 13103 Barbara Ann St., a 41-unit multifamily property in North Hollywood. The property sold for nearly $5.89 million, or $143,610 per unit, and closed escrow at a 5.7% cap rate based on in-place income. “The property had been under the same ownership for more than 30 years,...
Learn more
Charney Companies and Tavros recently celebrated the groundbreaking of 175 Third St. in Gowanus, Brooklyn. The 27-story mixed-use tower, the newest addition to the Gowanus Wharf development, will house more than 1,000 apartments, approximately 250 of them affordable. Designed by Bjarke Ingels Group (BIG) and dencityworks, the project will also include a 28,000-square-foot public waterfront...
Learn more
JLL Capital Markets arranged $276 million in refinancing for Vivante Newport Center and Vivante Newport Mesa, a two-property seniors housing portfolio in Newport Beach. Senior managing director Greg Brown, assisted by senior managing director Aaron Rosenzweig worked on behalf of the borrower, an affiliate of Nexus Development, to secure two uncrossed loans for the portfolio....
Learn moreRe/Max Real Estate Professionals | New York
Central CA Commercial | California
Recckio Real Estate & Development
Avison Young - CA - ON - Greater Toronto
California
California