WORCESTER, MA-The first phase of a $30-million project to develop a 30-acre parcel in the Main South neighborhood is underway as the Main South Community Development Corp. prepares to demolish a number of houses on the site and clean up the property.

According to Tom Sweeney, assistant economic development director for the city, Main South CDC has taken responsibility for cleaning up the site–which was once home to a number of industrial companies–but that was factored into the sale price of the property. Nearly 90% of the properties in the seven and a half acres of the project’s first phase have been acquired, with none taken by eminent domain.

Clark University will develop a number of athletic fields on the site. In addition, a new Boys and Girls Club will be erected as well as 80 to 100 units of affordable housing. Funds for the project are coming from a variety of sources including federal, city and state sources as well as private donations, Sweeney notes.

The initiative for the revitalization project came about, he tells GlobeSt.com, “because of the basic decline of the neighborhood, the abandoned buildings and the area’s high crime rate.” Sweeney estimates that the first phase will be completed within two years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. Multifamily Spring 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt. Multifamily Fall 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.