Worcester scored three big wins in March as developers plan for new housing to breathe new life into Osgood-Bradley, the old Worcester County Courthouse, and the vacant Unum building.
Recently, the City Council approved the use of the Housing Development Incentive Program (HDIP) for the development of the Osgood-Bradley building. The Chamber led the effort in December of 2013 to have the City Council adopt this state local option economic development tool. HDIP is a TIF specifically for market rate housing. The Osgood-Bradley building will involve the development of 82 units of housing in this $32.7 million project led by Vision Development.
Worcester County Courthouse
The Worcester County Courthouse, vacant for 10 years, has been sold for $1.2 million to the national developer Brady-Sullivan. This will be the site of 115 units of market rate housing and will also include a retail component. This approximate investment of $14 million by the Patrick-Murray administration was facilitated, in part, by a $3 million grant to remove any contaminants such as asbestos from the property. Chamber Director of Business Recruitment Sherri Pitcher and Paul Morano from the City of Worcester showed the property to the developer following a meeting with City Manager Augustus, me, and members of our teams to the team at Brady-Sullivan.
Chamber member business Winn Development also announced an option to purchase the vacant UNUM building and will look to develop it for student housing and classroom space.