Banker & Tradesman is reporting that “the city of Worcester has launched a new program aimed at helping certain developers get streamlined access to capital to revitalize troubled small two- to four-unit properties throughout the city.” This new program called “Worcester Housing Now” was developed in an effort to revitalize a number of properties that have been neglected, leading to “resident health issues, blighted and vacant buildings and units and disinvestment in neighborhoods.”
The article goes on to state that “the city will evaluate whether developer applicants have the means to complete projects and whether or not they have a track record of completing projects of similar size” and “all projects will have to be completed within a year.” For more information on Worcester’s program for triple decker apartments, read the full article here.
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Banker & Tradesman. “Worcester Will Help Developers Buy, Rehab Triple Deckers” www.bankerandtradesman.com. Accessed 29 October 2019.