GOVERNOR PATRICK ANNOUNCES INVESTMENTS TO CREATE GROWTH AND OPPORTUNITY IN BROCKTON
Additional investment to support redevelopment of Enterprise Block
BROCKTON – Tuesday, October 29, 2013 – Governor Deval Patrick today announced over $11 million in additional funding for the City of Brockton through the MassWorks Infrastructure Grant Program to help support the redevelopment of Enterprise Block, a centrally located square that will bring growth and opportunity to downtown Brockton. Through the Patrick Administration’s strategic investments in housing and economic development projects, Brockton has become an attractive place for residents and families to live, work and play.
“Growth requires investment, and investments like these to support housing and business development will help catalyze growth in Brockton and beyond,” said Governor Patrick. “If we want to expand opportunity in our Commonwealth, this is what government must do and do well.”
This newest investment builds upon a strong partnership between the Patrick Administration and the city of Brockton. In 2012, the city received $4 million through the MassWorks program for the first phase of the revitalization, which included the demolishing of the Gardner Building and work to prepare the site for future development. This latest grant brings the total investment the Administration has made in the redevelopment of the area to more than $15 million over the last two years. That support will help facilitate revitalization of the downtown area, and in total, represents nearly $100 million in public and private investment. The project is expected to retain 219 current jobs and create an estimated 575 new part-time jobs and 36 new full-time jobs.
Phase I of the project will consist of a mix of housing and commercial space, scheduled to begin in November. The housing portion will feature 113 new housing units, including 71 apartments, 29 of which will be affordable. The remaining 42 units will be live/work space for local artists, featuring an artist gallery and office space on the first floor. The commercial component of Phase I will include the rehabilitation of the now vacant Enterprise Building into 52,000 square-feet of office space.
The second phase of development will include 102 new units of housing and a new parking garage to accommodate the increase in tenants. This is scheduled to begin within two years after the completion of Phase I.
“We are making real progress in Brockton to create new life in downtown and ensure growth across the city, and it is progress that’s been made possible by a tremendous commitment from Governor Patrick, his team and so many of our partners,” said Brockton Mayor Linda M. Balzotti. “We’re working together to bring about the most significant public-private investment in downtown Brockton in more than 20 years, and this funding will go a long way to continue Trinity Financial’s redevelopment of the Enterprise Block and pave the way for development to come.”
“We remain committed to working with local communities, like Brockton, to help identify opportunities to maximize growth and spur regional development,” said Housing and Economic Development Secretary Greg Bialecki. “I look forward to our ongoing partnership with city officials and private industry leaders to explore additional ways to promote continued growth throughout the community and region.”
Following Tuesday’s announcement, Governor Patrick toured W.B. Mason’s corporate headquarters, also located in downtown Brockton. With over $1 billion in annual sales, the company is the fifth largest office products dealer and the largest privately held office products company in the country. In December 2012, the Economic Assistance Coordinating Council (EACC) approved $300,000 in tax credits for the company through the Economic Development Incentive Program (EDIP). This award helped W.B. Mason expand its corporate headquarters and leveraged $6 million in private investment to support structural improvements and rehabilitate empty storage space into state-of-the-art office space. The expansion project is projected to create 50 full-time jobs and retain 273 full-time jobs at the site.
Governor Patrick also visited the Station Lofts Project in Brockton, which includes the historic rehabilitation of a factory into 25 units of mixed-income housing. Conveniently located one block away from the MBTA commuter rail station, the development will feature surface and garage parking, a fitness center, storage and on-site management. In May 2012, Capstone Communities received $1.5 million in housing subsidies from the Department of Housing and Community Development and $495,348 in federal and state low-income tax credits to support the project.
“Trinity Financial is ecstatic to have reached this milestone in the redevelopment of the historic Enterprise Block in downtown Brockton,” said Kenan Bigby, the Vice President of Trinity Financial Inc. “The Commonwealth’s investment of MassWorks resources will allow this comprehensive, mixed-use, mixed-income project to move forward. The Commonwealth’s resources will leverage more than $68 million in private financing aimed at transforming and reinvigorating the heart of one of the Commonwealth’s most storied Gateway Cities. We look forward to getting this project underway and bringing the vision that so many have worked for to fruition.”
“The entire Station Lofts team is thrilled to be able to showcase the transformation of the Knight Building into Station Lofts,” said Jason Korb, Founder and Principal, Capstone Communities LLC. “We thank Governor Patrick, Secretary Bialecki, Undersecretary Gornstein and the entire Administration for their incredible support in achieving the building’s revitalization."
“W.B. Mason has been located in downtown Brockton for 115 years and we know this is a great place to grow a business,” said Leo Meehan, CEO and President of W.B. Mason. “This investment and support from the State that Governor Patrick is committing will go a long way in helping revitalize our downtown and city.”
The MassWorks Infrastructure Program, which is overseen by the Executive Office of Housing and Economic Development, is the consolidation of six capital budget programs, giving communities a single entry point and one set of requirements for state public infrastructure grants. The consolidation has improved efficiencies and streamlined the process, increased access for municipalities of all sizes and enhanced state-regional-local partnerships around economic development and housing projects.
The EDIP is the Commonwealth’s investment tax credit program for businesses. In 2009, Governor Patrick, along with the Legislature, reformed the program and, as a result, EDIP has become one of the most effective programs helping businesses grow in Massachusetts. Since these changes, 160 projects have received approval, leading to the creation of 11,449 new jobs, retention of 37,207 existing jobs and leveraging of $4.5 billion in private investment. The EACC has assisted 92 manufacturers through the EDIP program and supported 71 projects in Gateway Cities.
Enterprise Block is part of the Brockton Growth District, which was designated on March 19, 2013. In partnership with local communities, the Patrick Administration identifies Growth Districts on an on-going basis and works closely with the local communities to ensure that the districts are development ready.