Commonwealth of Massachusetts
EXECUTIVE OFFICE OF HOUSING &
LIVABLE COMMUNITIES
Maura T. Healey, Governor  Kimberley Driscoll, Lieutenant Governor  Edward M. Augustus, Jr., Secretary
October 23, 2024
The Honorable Mark J. Cusack The Honorable Susan L. Moran
Joint Committee on Revenue, House Chair Joint Committee on Revenue, Senate Chair
State House Room 34 State House Room 312-D
Boston, MA 02133 Boston, MA 02133
Via Email: mark.cusack@mahouse.gov Via Email: susan.moran@masenate.gov
The Honorable James Arciero The Honorable Lydia Edwards
Joint Committee on Housing, House Chair Joint Committee on Housing, Senate Chair
State House Room 146 State House Room 413-C
Boston, MA 02133 Boston, MA 02133
Via Email: james.arciero@mahouse.gov Via Email: Lydia.edwards@masenate.gov
Geoffrey E. Snyder
Commissioner of the Massachusetts
Department of Revenue
200 Arlington Street Chelsea, MA 02150
Via Email: snyderge@dor.state.ma.us
RE: Fiscal Year 2024 Housing Development Incentive Program Report
Dear Commissioner Snyder and Chairs Arciero, Cusack, Edwards, and Moran:
Pursuant to Section 4 of Chapter 40V of the General Laws, the Executive Office of Housing and Livable
Communities (EOHLC) submits the enclosed annual report on the Housing Development Incentive Program
for fiscal year 2024.
If you have any questions or would like to discuss the contents of the report, please contact Catherine Racer,
Undersecretary of Housing Development, at catherine.racer@mass.gov.
Sincerely,
Edward M. Augustus, Jr.
Secretary, EOHLC
100 Cambridge Street, Suite 300 www.mass.gov
Boston, Massachusetts 02114 617.573.1100
 HOUSING DEVELOPMENT INCENTIVE PROGRAM (HDIP)
FISCAL YEAR 2024 REPORT
Pursuant to General Laws Chapter 40V, Section 4, this report includes the Executive Office
of Housing and Livable Community’s (EOHLC) findings of its review of all certified housing
development projects evaluated in fiscal year 2024 (FY2024).
A. HDIP Projects Evaluated in FY2024 and Located in Municipalities with Approved
HD Zones
During FY2024 (July 1, 2023, through June 30, 2024), EOHLC evaluated HDIP projects in the
following ten municipalities with approved HD zones:
Brockton
Fall River
Haverhill
Holyoke
Hyannis
Lawrence
Lowell
Pittsfield
Salem
Springfield
B. Project-Specific Information of HDIP Projects That Received Certification in
FY2024
For project-specific information, please refer to the attached spreadsheet.
 Housing Development Incentive Program
(HDIP)
FY24 Statutory Report
# of
Total # of Total # of Affordable Anticipated Anticipated
Market Affordable # of For-sale Total Qualified Fiscal Year in Calendar Year of
Projects That Received Total # Rate Units (60% Range of Studio # of one- # of two- # of three- Units (80% Project Which Credit Project
Certification in FY24 Location Site Address Project Sponsor of Units Units* AMI)** Rents Units*** bedrooms*** bedrooms*** bedrooms*** AMI) Expenditures Will be Issued Completion
1 Ringside Residences Brockton 40-45 Petronelli Way New Vision Enterprises 50 50 0 $2,150-$2,650 0 35 15 0 0 $20,497,000 2026 2026
2 Union Belt Lofts Fall River 66 Troy Street Anthony Cordeiro 36 36 0 $1,750-$1,850 23 13 0 0 0 $10,240,000 2026 2026
3 Sacred Heart Lofts Fall River 160 Linden Hajjar Management Co 46 46 0 $2,473-$3,386 0 0 43 3 0 $10,812,000 2026 2026
4 Franklin Block Haverhill 200 Merrimack Atlantis Investments 21 21 0 $1,800-$2,220 11 10 0 0 0 $5,973,000 2026 2026
5 Wright Block Holyoke 106-120 High Street Urbanist Development 19 16 3 $934-$1,850 5 6 7 1 0 $7,247,000 2026 2026
6 Linnel Landing Hyannis 50 Yarmouth Road Jake Dewey 12 10 0 $1,850-$2,300 0 8 4 0 0 $3,300,000 2025 2024
7 theJav Lawrence 115-123 Essex JoWaMar Companies 24 24 0 $1,688-$2,225 0 8 16 0 0 $8,800,000 2025 2025
8 Isobel Lofts Lowell 78 Middlesex Street Nine Zero Development 26 26 0 $2,000-$2,900 6 17 3 0 0 $9,400,000 2025 2025
9 Hildreth Building Lowell 31-55 Merrimack Street RCG LLC 50 50 0 $1,550-$2,300 13 31 6 0 0 $16,366,000 2026 2026
10 Wrights Block - Historic Pittsfield 255 North Street Allegrone Companies 21 17 0 $1,100-$2,111 0 11 10 0 0 $11,039,000 2026 2026
11 Wrights Block - NC Pittsfield 229 North Street Allegrone Companies 14 11 0 $1,100-$2,200 0 2 12 0 0 $6,500,000 2026 2026
12 5 Broad Street Salem 5 Broad Street Charing Cross Realty 16 15 1 N/A**** 0 6 10 0 1 $9,850,000 2026 2026
13 Parsons Apartments Springfield 169 Maple Street Davenport Advisors 11 11 0 $1,750-$2,270 0 0 1 10 0 $4,123,000 2026 2026
14 Chestnut Place Worcester 10 Chestnut Place Synergy 198 198 0 $1,967-$2,841 72 85 41 0 0 $73,448,000 2027 2027
Total 544 531 4 130 232 168 14 1
* At least 80% of total units must be market rate by statute
** Development of affordable units is not required by statute; affordable units typically are available to households earning at or less than 60% of AMI
*** Statute does not require certain number of bedrooms
**** Affordable unit will be priced at approximately $220,000 and market units will range from $499,000 - $710,000