Governor Baker Announces Plans for Strategic Use of State Real Estate Assets
Outlines opportunities to leverage state land for economic development, affordable housing
BOSTON – Governor Charlie Baker today outlined the administration’s Real Estate Asset Leveraging (REAL) Strategy for developing unused or underutilized Commonwealth properties into new opportunities for affordable or market-rate housing, reducing government expenses, increasing revenue without taxes, capital investment in state properties, economic development, or open recreational space. Across our state agencies and authorities, the Commonwealth highlighted 42 near-term opportunities for public-private partnerships at an open house for interested parties.
“As the Commonwealth’s largest property owners, state government has an opportunity to leverage underutilized real estate to build housing and conserve open space, while driving economic growth and stronger communities across Massachusetts,” said Governor Baker. “We are excited to invite the private sector and community partners to participate in this process and look forward to unleashing their creativity and innovation to better use public land for the good of the Commonwealth.”
Among the REAL Strategy steps announced by the Governor today were:
Over 40 initial properties were identified today for the solicitation of proposals, including:
The REAL Strategy was announced at an Open for Business event hosted by the Baker-Polito Administration and attended by representatives of businesses and key state agencies, including the Executive Office for Administration and Finance, Executive Office of Energy and Environmental Affairs, the Executive Office of Housing and Economic Development, the Massachusetts Department of Transportation (MassDOT), the Massachusetts Bay Transit Authority (MBTA), the Massachusetts Port Authority (Massport), MassDevelopment and DCAMM. Of the Commonwealth’s over 20,000 properties, approximately 15,000 are held by DCAMM, 4,000 by the MBTA and 1,700 by MassDOT.