Brockton, MA – MassDevelopment has provided $6,480,208 in loan financing to 28 Petronelli LLC, an affiliate of Concord Square Planning & Development, Inc., which will use proceeds to redevelop a vacant, historic 4-story building at 28 Petronelli Way in Brockton into 18 units of market-rate rental housing.
Built in 1890 as the St. Patrick’s Total Abstinence Society, from 1969 to 2012 the building served as the Petronelli Gym, a studio for boxers run by brothers. Concord Square will revitalize the building with a combination of studio, one-bedroom, and two-bedroom transit-oriented housing units. Construction started in December 2021 and is expected to be complete in December 2022.
The building at 28 Petronelli Way is located in an area previously served by MassDevelopment’s Transformative Development Initiative (TDI). Real estate projects like the redevelopment of 28 Petronelli Way have been enabled in part by investments in downtown Brockton through TDI like the Brockton Downtown Action Strategy, District Improvement Financing, and the district’s former TDI fellow George Durante.