MassDevelopment Provides $310,000 for Real-estate Projects Across Massachusetts

BOSTON — MassDevelopment announced up to $310,000 in funding for 10 projects through its Real Estate Technical Assistance program. Under this program, through a combination of in-house expertise and contracts with consultants, MassDevelopment works with municipal officials, planners, local stakeholders, and others to address site-specific and district-wide economic-development challenges. The technical-assistance funds will support a range of projects, from feasibility studies to master-planning efforts.

Locally, the town of Greenfield will use one of the awards to prepare a market assessment and operational analysis of proposed uses in the First National Bank and Trust building. This follows a feasibility study that consultant Taylor Burns completed in June.

The other local award will be given to the city of Holyoke to develop architectural and financial analyses to determine the cost of rehabilitation of the former National Guard Armory at 163 Sargeant St. Findings from the analyses will help the city secure additional funding needed to move the project forward.

“As part of our mission to help communities thrive, we’re proud to provide funding for real-estate services that will advance local economic-development goals in 10 cities and towns around the Commonwealth,” said MassDevelopment President and CEO Lauren Liss. “These projects will enable municipalities to explore the development potential of key properties, address streetscape and infrastructure needs, and plan for smart growth.”