While significant progress has been made in downtown Springfield in recent years, several issues and challenges remain, and many of them come together at the corner of State and Main streets and other properties near that intersection.
Indeed, this is the site of several mostly vacant and underutilized buildings in the shadow of MGM Springfield that were a big part of the city’s past, but have become an eyesore in the present and a huge question mark for the future.
Last week, that future became much brighter when the city named a preferred developer for a project to redevelop the so-called Clock Tower Building at State and Main, the Colonial Block just south on Main Street, and a smaller office building on Stockbridge Street.
McCaffery Interests Inc. plans to create more than 90 market-rate apartments in the three buildings, a $68 million project that, if it comes to fruition, could go a long way toward addressing some of those issues alluded to earlier.
One of them is housing.
At the local, state, and federal levels, this is the word you hear most often, and with good reason. There is a huge need for housing, and especially market-rate housing, in almost every community in Western Mass., especially Springfield. And while an additional 90 units won’t solve the problem, they will certainly be a huge step in the right direction.
Meanwhile, this project will bring new life to properties that stand in stark contrast to the gleaming casino across Main Street and to the progress seen at other addresses, especially Court Square, where another huge mixed-use project focused on housing is taking shape.
As mentioned earlier, these properties have played a big role in the city’s past, as home to both residents and businesses of all kinds, but they have been left behind, if you will, by neglect and huge changes in the office market.
Indeed, there is a now what amounts to a glut of office space in Springfield and questions about what will become of that space. McCaffery Interests has put some ambitious plans on the table to answer that question for at least three properties.
While helping to address the housing crisis and bring new life to these once-proud properties, this project will also bring additional momentum to the efforts to revitalize downtown Springfield and likely trigger efforts to redevelop many other vacant or underutilized properties in that area.
As we’ve written many times, there are several ingredients to the success of any downtown. The first is people. The second is businesses to support and serve those people. And one brings more of the other. More people means more restaurants, retail, and other service businesses, and these businesses, in turn, attract more people.
The ambitious project to redevelop these three properties should help generate this kind of chain reaction of progress.
It’s another big step forward for Springfield.