Press Release  Healey-Driscoll Administration Awards $15 Million in Housing Tax Credits to Five Gateway Cities

New Bedford — oday, Lieutenant Governor Kim Driscoll and Housing and Livable Communities (HLC) Secretary Ed Augustus announced $15 million in Housing Development Incentive Program (HDIP) awards to projects that will create 369 new homes across Massachusetts. The awards were given to six projects located in five Gateway Cities: Brockton (two projects), Fall River, Hyannis, Lowell and New Bedford. 

HDIP is an effective and valuable tool for the state’s Gateway Cities to produce more market-rate housing to support economic development, expand the diversity of the housing stock and create more vibrant neighborhoods. As part of the $1 billion tax cut package signed by Governor Maura Healey in 2023, the annual HDIP program cap was raised from $10 million to $30 million a year with a one-time infusion of $57 million. 

Under the Healey-Driscoll Administration, the impact of HDIP support has been far-reaching: 46 projects have been awarded a total of $102 million in HDIP tax credits, spurring the creation of 2,742 new homes in 15 different cities.  

“HDIP is delivering real results for families and communities across the state. Through this program alone, our administration has supported projects that will produce nearly 3,000 new homes for residents living in our Gateway Cities,” said Governor Healey. “By increasing the funding for this program, we’re creating more housing to lower costs, revitalizing downtowns, and strengthening local economies.” 

"Housing remains a top priority for our administration, and we're working hard to build more homes across more communities at a faster pace," said Lieutenant Governor Driscoll. “These awards continue to have a big impact in their communities while helping us lower costs across the state.” 

“This administration continues to take advantage of every available tool to unlock housing production and address the shortage we're facing here in Massachusetts. HDIP is crucial to our success in making that a reality,” said Secretary Augustus. “In addition to creating new housing across the state, these awards are part of reinvigorating our Gateway Cities, which is essential in keeping Massachusetts competitive, vibrant, and a place where people can afford to build their lives.” 

Today’s announcement was held at 4586 Acushnet in New Bedford, which is receiving $2.5 million dollars for an adaptive reuse of a vacant former nursing home. Couto Brothers Development is completing the adaptation to create 65 market-rate homes. 

Below are all six awardees:   
   

117 N. Main – Brockton   

Sponsor: Concord Square Development  

HDIP award: $3,000,000   

Total units: 100  
   

The Elmcourt Hotel – Brockton   

Sponsor: Bryant Hotel LLC  

HDIP award: $2,500,000   

Total units: 48 
   

Globe Mills Lofts – Fall River   

Sponsor: MassCanCapital  

HDIP award: $3,000,000   

Total units: 89  
   

94 Stevens Street - Hyannis  

Sponsor: Starbuck Corporation  

HDIP award: $1,800,000   

Total units: 40  
   

246.1 Market Street – Lowell   

Sponsor: Novus Properties  

HDIP award: $2,400,000 

Total units: 27  
   

4586 Acushnet – New Bedford   

Sponsor: Couto Brothers Development  

HDIP award: $2,500,000   

Total units: 65  

Statements of Support  

Mayor Jon Mitchell:  

“This project aligns with the City’s housing plan, ‘Building New Bedford,’ as it will activate a vacant property, help drive down housing costs in Greater New Bedford, and expand the City’s tax base. I appreciate the Healey-Driscoll Administration’s support in helping this project get off the ground.” 

Mayor Paul Coogan: 

“The redevelopment of the historic Globe Mill for workforce and market rate housing will help meet the need for additional housing and help drive down rents by increasing the supply of available rental housing. Such an investment will allow the city to continue its housing diversification efforts which will, in turn, lead to a better balance of housing choices for Fall River residents.  This project will help to diversify housing stock throughout the southern portion of the city and support economic development initiatives and help to stabilize the South Main Street/Globe Neighborhood.” 

Senator Michael J. Rodrigues, Chair of the Senate Committee on Ways and Means:  

“I’m thrilled the Globe Mills Lofts will receive $3 million in grant funding to redevelop this historic mill into almost 90 rental housing units! I’m confident that MassCanCapital, will utilize historic tax credits to swiftly begin work on this project. These reclamation projects continue to support Fall River’s goal to increase affordable housing and mixed-use development initiatives.”  

Senator Julian Cyr, Senate Chair of the Joint Committee on Housing: 
“This investment in 94 Stevens St. will make a real difference for Hyannis by transforming a long-underused site into new homes right in the center of downtown. Adding 40 year-round rental units, including income-restricted housing, supports the workers, families, and small businesses that keep Hyannis vibrant all year long. I'm grateful to Secretary Augustus and the Healey-Driscoll Administration for recognizing the importance of downtown housing on Cape Cod and for continuing to partner with us to meet this urgent need.” 

Representative Christopher Hendricks:  
“The redevelopment of 4586 Acushnet Avenue is exactly the kind of project New Bedford needs: housing that transforms long-vacant properties into productive community assets. By renovating this former nursing home, the project will deliver 65 new rental units in New Bedford, expanding housing supply at a time of significant demand. Increasing the availability of market-rate housing helps relieve cost pressure across the broader rental market, contributing to more stable rents citywide while strengthening the surrounding neighborhood and putting an underutilized site back into active use.” 

Representative Steve Ouellette: 
“I’m pleased to have Secretary Augustus and the Governor’s commitment to our district and their confidence in our legislative delegation to better our communities. Thank you very much!” 

Representative Carole Fiola:  
“HDIP continues to prove that it is a vital tool for investing in our communities. This award is a wonderful investment in housing in Fall River.” 

Representative Alan Silvia:  
“This project will add 89 much needed rental units in our district and help address our housing shortage. This is a strong example of how smart investment can address our housing needs while supporting responsible redevelopment.” 

Representative Tara Hong: 
“Thank you to EOHLC for your continued support of our great city and their support of this wonderful project. The historic mill conversion by Novus Properties not only creates more housing, but also preserves the historic character of Lowell.” 

Representative Vanna Howard:  
“Lowell's historic Turbine Building is getting a new chapter! From powering our past to solving our housing crisis, this project is huge for downtown growth. Easy access to public transit and shops, makes it a smart move for all! I’m grateful to the Healey-Driscoll administration for supporting Lowell's future.” 

Representative Antonio Cabral:
“This HDIP funding demonstrates the power of strategic public investment in housing development. By transforming a vacant former nursing home into 65 new homes, we’re making a smart investment in New Bedford’s future and breathing new life into our community. As House Chair of the Gateway Cities Legislative Caucus, I’m proud to have helped establish the Housing Development Incentive Program, which has been especially valuable in addressing the housing development challenges our Gateway Cities face. I’m grateful to the Healey-Driscoll Administration for supporting this project and for their ongoing commitment to creating more housing opportunities across the Commonwealth.”
 

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