Boston – Through its Transformative Development Initiative (TDI) Equity Investment program, MassDevelopment will award $1,025,000 in grants to Main South Community Development Corporation (CDC) and 409 Main Street LLC.
$950,000 will go to the Main South Community Development Corporation for the construction of a new building at 807-815 Main St. in Worcester, consisting of lots that have been vacant 30 or more years, will feature seven affordable “lease to own” commercial storefront units ranging from 1,175sf to 1,720sf in size. This project aims to promote stability and wealth-building opportunities for diverse local businesses in the neighborhood. The organization expects to complete construction on the new building in 2022 or 2023, with the storefronts converting from rental units to ownership units between 2024 and 2027.
$75,000 will go to 409 Main Street LLC, an affiliate of Elite Construction & Design, for the rehabilitation of 409 Main St. in Fitchburg, for a building that has been vacant for 13 years. This grant will leverage private financing to add a commercial storefront on the ground floor and four apartments on the upper floors. The property has been vacant since 2009, when the bar previously located in the building closed. Elite Construction and Design has begun construction on the rehabilitation of the building and expects to complete work in late spring 2022.