Land Development in Worcester
As a center for commerce, industry, and learning, Worcester’s growth can be attributed to the low cost of housing, high quality of life, overall accessibility, and our growing knowledge-based economy. Worcester has evolved from its days as a manufacturing giant to a leader in information technology, biotechnology, health care, and medical research. This change has transformed Worcester’s economy – nearly 40% of all jobs within the city are in the educational and medical fields, attracting a young, educated workforce. Worcester has easy access not only to Boston and its western suburbs, but, via I-90, I-495, I-84, and Route 146, quick connections to the North Shore, South Shore, Springfield, Providence, Rhode Island, and Hartford, Connecticut. Worcester has many sites ripe for development to accommodate a burgeoning office and residential marketplace.
As a robust and vibrant community that is forging its own path, the City of Worcester is a smart city and a smart choice for investment.
For information about and assistance with the City of Worcester's Planning Board, Zoning Board of Appeals, and other regulatory bodies, please contact the Division of Planning & Regulatory Services at (508) 799-1400, x1.
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Site Search Assistance
- Location Worcester - Program designed to identify available land and building space in coordination with local real estate professionals and property owners.
The City of Worcester is currently pursuing the approval of the Housing Development Incentive Program (HDIP). This program was established per M.G.L. 40V to provide municipalities with another development tool to increase residential growth, expand diversity of the housing stock, support economic development, and promote neighborhood stabilization in designated target areas.
The HDIP provides two tax incentives for redeveloped properties for lease or sale as multi-unit market rate housing. These include:
- A local-option real estate tax exemption on the incremental value.
- Exemption percentage of not less than 10% and not more than 100% on incremental value of market rate units
- Tax increment exemption for a period of no less than 5 years and no more than 20.
- A state tax credit for Qualified Substantial Rehabilitation Expenditures awarded through a rolling application process
- Tax credit of up to 10% of qualified substantial rehabilitation costs of market rate units. Total annual program cap of $5 million
Eligible projects include substantial rehabilitation to an existing property, including commercial or mixed-use, that results in:
- Two or more units of market rate housing for sale or lease
- Maximum of 50 market rate units per project
- Minimum of 80% of units per project as market rate
For more information please contact Jackson Restrepo, Senior Project Manager, at email@example.com or 508-799-1400, Ext. 262.