7.9.2026 - Housing Development Incentive Program Award Announcement

We really want to thank everybody for coming down here to 84 North Main Street which will soon be converted into 22 market rate apartments. We have a number of dignitaries here. A few people are going to talk but it's really important that we get out the point that these housing development incentive program grants are very very important to the gateway cities across Massachusetts. We

have people here from Pittsfield Lel.

These monies go directly back into the communities to look at property that's in distress that's going to be converted into beautiful here 22 market rate apartments. Um we're going to have historic preservation. We're going to support local businesses and we're going to advance the production and housing goals of the uh Healey Driscoll administration that so so much wants more housing in the city so that prices

will float down and people have the opportunity to come here. Um, again, this is going to be a a landmark project because we're right down here on North Main Street as opposed to some of the other ones we've done at the Mills and other things in Fall River. But with that being said, as everyone knows, I'm not a big talker. But I do want to introduce a very good friend to the city

of Fall River. She was here the other night. I don't think she left. She probably slept over. And um she'll probably be down the end of the week also because uh she comes down because she's concerned about what's going on in all the gateway cities, but she takes special interest in all of them. And she comes to Fall River in person to ask what do you need for help? What can we

do to support you and where we going from here? Very, very important to have hands-on politicians like that that don't just call us and say, "How's it going?" So I want to introduce my very, very, very good friend, Lieutenant Governor of Massachusetts, Kim Disc.

HEY EVERYONE, GOOD MORNING. Such a pleasure to be here uh for this announcement. Thank you, Mayor, for not only your strong partnership, but the way you're leading. Always great to be here with you, Senator Rodri, somebody who never lets us forget uh where his district is and why it's so important that we make investments. And that's coming from the heart. And uh as someone who certainly led a gateway city just a

little north of here in Salem along the water, really value these historic gateway cities and what they can mean. I know Rep. Fiola couldn't be here. We were together. We were all together just a couple of days ago. Um uh celebrating uh the lighting of the Braga Bridge, another investment in infrastructure here uh in in the district. And it's great to see you rep field as well,

knowing that we've got a project in your in your uh district in Taton. Um, so important that we have a strong partnership with the legislature. All of the funding for our HDP awards comes from uh the Affordable Homes Act and our ability to work in partnership with each other to recognize what it means to invest uh in a gateway city in places that need housing. We need housing everywhere, but particularly in gateway

cities. And many of the developments in gateway cities are happening in downtowns, which makes my heart really sing knowing the vibrancy that we tie to our main streets and how that identifies a community. Having market rate units or some percentage of market rate units in our historic downtowns, frankly, in buildings that used to play prominent roles is so critical. This is an old

bank, I'm told. It was one of the first banks in Fall River. And look at the craftsmanship. Like, you can't recreate some of this. And we're in the before stage, right? So, I can't wait to see the after stage. But this um is one of the most important investments we make.

Housing where people will live. That's going to help drive down cost of housing overall. But it takes uh a partnership to do that. And so today, we're proud to announce $18.6 million in housing development incentive program tax credits. That's going to help create 662 new homes in six gateway cities in Massachusetts. They're all listed here.

These are projects that would not happen without this funding. I really want to make that clear. These are places that have gaps. Whether it's the cost of the the redevelopment or the reuse or what you can garner for rents, it just doesn't pencil out. But because of the HDIP programs, we're seeing historic investments in gateway cities, particularly in areas that will create that additional vibrancy, whether it's a

mill or a downtown setting. Here, this will be the Dery Block Apartments, um, one of six projects receiving HDIP fundings. They're going to be able to use the $1.5 million in tax credits to create 22 new rental homes. And that's going to be future patrons for the coffee shop I just visited down the street, or people who can live here and work here who might not be able to do that now. It's an exciting opportunity

not just for Fall River but for all the gateway cities receiving awards and frankly there are many more before this and many more that will come after this.

This is one of our more successful programs and we're grateful to be in a position to help support it. Whether it's a historic building like this one or even groundup construction, we're creating the housing we need by working together in this way. when we cut uh the taxes in 2023 uh as part of the official uh first official uh administration's bill. We also tripled the size of the

HDIP program that was a tax credit to go back into Gateway Cities helping with that vibrancy. As a former mayor of Salem, I was the mayor of Salem of 17 years. And so I know how hard it is to get these deals to pencil out and to get the stars to align that you have uh people willing to make the investments.

These are not easy projects, particularly when you're talking about historic rehabilitation. uh having an econ an economic cycle that works to make them pencil out and then having the state be a partner in that. That's when you see the stars are really lining up and that's why it's so great to be here.

This is part of how we think about collaborations. You know, we have a major housing challenge in Massachusetts across the entire Commonwealth. We've developed the first statewide housing plan. We know what we need to build and we're 100,000 units on our way since our we've taken office, but we've got another 120,000 units to go. And last time I checked, there wasn't a 100,000 uh unit development that we could rely

on. So, it's projects like this. We need singles, we need triples, we need doubles all across Massachusetts to help us tackle the housing needs, and that is going to drive down cost and make for more affordable housing overall everywhere. These investments are working. both the policy investments we've made, whether it's allowing accessory dwelling units as of right, supporting additional investments in

HDIP, supporting first-time home buyers with new dollars for down payments that can put people in a position to own their first home. And some of our HDIP programs are not all rentals. Some of those are also home ownership opportunities. So, we've got a good start on the first $100,000. We know we've got more work to do. And we think this is actually the work that the state government should be doing. We can have

the best policies. We can have tremendous resources, but housing gets built in communities. It gets built by having local leaders, committed developers who are willing to put the pieces together to take on projects. And at the end of it, it's going to create a place for somebody to live and someone to serve as a a patron for a restaurant or a a coffee shop or a business that needs workers. And that's the key to

having vibrant, revitalized communities and in particular in our gateway cities, places that delivered for their regions.

They were the major economic uh uh drivers in this region. We want to make sure we're supporting those efforts to bring them back to create that vibrancy.

So happy to be here with all of you. Uh and can't wait to come back for the ribbon cutting and see this amazing space come together. Uh the after as I like to call it. Uh it's now my pleasure. We are so fortunate that when we took office, we knew the importance of housing was top of the list everywhere we were. I can be in the 413 in Western Mass and where housing is a

little bit more affordable than Eastern Mass. It was still not more affordable to the folks who were there. So we decided to create our own housing secretariat again with the partnership of the legislature and that's when we have a housing and livable communities uh cabinet secretariat and they are responsible for helping drive housing.

The governor's been very clear with us more housing faster and uh we've been able to invest mightily in communities small, large, urban, rural to ensure that we're demanding the housing that we need. That doesn't happen unless you've got strong leadership leading that team, finding ways to both break down barriers, create incentives, and get to days like today and the day that will come uh shortly after this one when

we're cutting ribbons on new houses. And we're lucky to have a secretariat who understands that world, who comes from us uh both as a former elected official and also the former secret regional administrator here in HUD, knows housing, knows how to drive a team, and knows how to deliver results. Secretary Wan Matias, thanks for joining us.

Good morning everyone. It is wonderful to be here in Fall River to celebrate another milestone in expanding housing opportunities across our Commonwealth.

Thank you to Lieutenant Governor Driscoll whose relentless leadership is invaluable to our Commonwealth and who's made housing production a top top priority across this administration.

Under the Healey Driscoll administration, we are using every tool available to us to increase housing production, preserve affordability, and make it possible for more Massachusetts residents to live in the communities they love. I want to recognize uh Senate Ways and Means Chair Michael Rodrigs and congratulate him on his leadership in delivering a another strong state budget uh that Governor Healey will sign today.

That budget reflects the partnership and commitment that continue to move Massachusetts forward on housing affordability and investments in communities across the Commonwealth. I'd also like to uh recognize I know she can't be with with us here today, Chair Carol Fiola for her leadership on the MA mass winds act and Rep. Fields who's here with us today and Mayor Coogan. Uh thank you for welcoming us to Fall River

and for your continued partnership in advancing housing and economic development here in the city and to Ken Fiola uh the developer leading this project. Thank you for your vision and leadership in bringing the Dery block apartments to life. Projects like this are only possible because of strong partnerships as the lieutenant governor mentioned with our developers, municipalities, and the Commonwealth.

Finally, I'd like to recognize our team at HLC, our housing development team that which is led by Kate Razer. Their dedication and expertise helped turn these investments into real homes across Massachusetts. I want to congratulate all six uh housing development incentive program awardees. We are recognizing today Dery Block Apartments here in Fall River, 216 Canal Street in Lawrence,

Franco American School Phase 3 in Lowel, 24th to 34 North Park Square residents in Pittsfield, Whittington Mill Apartments in Taton and Clark Block Rehabilitation in Worcester.

Together, these awards represent $18.6 $6 million in housing development incentive program tax credits and will help create 660 new new homes across six gateway cities. These awards represent more than an investment in housing. They represent a commitment in the future of these communities and in the people who will call them home. Here in Fall River, we are standing inside a building with a

remarkable history. Built in 1887 as the first National Bank building, this property has been part of downtown Fall River for generations. Today, it is given a new purpose. Rather than remaining underutilized, it will become 22 new rental homes, bringing new life to this historic building while helping to meet the housing needs of this community. That is exactly what makes HIPP such a powerful powerful tool. It

helps create new housing by transforming vacant, underutilized, and historically significant buildings into places where people can live. It closes financing gaps, as the lieutenant governor mentioned, on projects that are often too complex to move forward without state support. And it helps gateway cities build on the assets they already have, their downtowns, historic buildings, and infrastructure, and

strong local partnerships. Across Massachusetts, we know we need more housing, but we also know that the path to creating housing looks different in every community. In our gateway cities, the opportunity is often about transformation. It's about bringing new life to historic buildings, activating vacant spaces, supporting small businesses, increasing foot traffic on main streets, and creating homes near

jobs, transit, schools, and the communities people want to be a part of.

That is why programs like HDIP matter from small uh from Fall River to Lawrence, Lowell, Pittsfield, Taton and Worcester, today's awardees are showing what is possible when state and local government developers and community partners work together. They are preserving the character of these communities while creating the housing our future depends on. At HLC, we are very, very proud to administer HT

because we see firsthand what it makes possible. We see projects move from concept to construction. We see historic buildings come back to life. We see downtowns gain new momentum. And most importantly, we see more Massachusetts residents gaining access to the homes in the communities they love.

Congratulation again to all of today's awardees. Thank you to the city of Fall River for hosting us, to Ken Fiola and his team for their vision and partnership, and to everyone who helped make these projects possible. Together, we are building stronger neighborhoods, creating opportunity, and making Massachusetts a more affordable place to call home. And with that, I'd love to introduce Chairman Rodriggs.

Thank you, Madam Secretary. Good morning, everyone. It's just so great to be here. My uh goal at all of these events is to speak shorter than Mayor Coug, which is difficult because he is short and sweet and to the point, which I very much and we all very much appreciate.

But first, thank you. Thank you to Lieutenant Governor Driscoll for being here again today. We were just together the other evening as we lit the uh the Braggger Bridge. Thank you. And uh Governor Healey, the governor was on the she and I were speaking by phone as I was driving here. She is signing uh the FY27 budget as we speak. Um that um yeah absolutely.

Most people will talk about the size of it, 63.3 billion investments throughout so many important areas uh in the Commonwealth of Massachusetts. But um it also contains thousands of line items and sections including many addressing housing issues here in the Commonwealth of Massachusetts primarily focused around streamline permitting. Um just anything we can do to make it easier,

quicker, faster, and more affordable to build housing in the Commonwealth of Massachusetts. We're all focused on. Um and there's not as as lieutenant governor said, we have a lot of challenges, right? Every state, every community uh has challenges whether it's health care, health care costs, prescription drug costs, the cost of utilities in energy. But I think the greatest challenge that we really need

to focus on for the future of Massachusetts is housing. You know, the number one demographic of out migration in the Commonwealth of Massachusetts is a 25 to 40 year old demographic. That's dangerous for a Commonwealth's future.

And the number one reason why uh these young adults are leaving the Commonwealth is the affordability of housing. We have to stop that and one step at a time. Uh and no one has been um has taken more of a lead on that than uh the um Healey Driscoll administration. So thank you. Thank you to my colleagues in government, Representative Fiola, who's not here, but a strong partner as we triple the

allocations of HTIP awards um uh in the tax bill a couple years ago. To Representative Fields, congratulations.

I know how strongly of an advocate you've been for the project uh in Taton.

Uh to the developer of this project, Monty Ferris, um many emails exchanged back and forth and phone calls trying to help and support you every step of the way, and we will continue to do that.

Um, and uh, most of all, thank you to Ken Fiola, who I'm going to introduce.

Where is Ken? Right over there. Okay, way over there. Who is really the leader in all of the development here in the city of Fall River, whether it's on the waterfront, whether it's downtown, whether it's in uh in the Flint section of Fall River, there's there's lots going on, and there's no greater champion uh for developing and improving the quality of life here in the city of Fall River. more than Ken Fiola. So,

Ken, you're up buddy.

Uh, good morning. Um, Lieutenant Governor Driscoll, Secretary Matias, Senator, Mayor, Representative Fields.

Thank you so much for, uh, coming to Fall River and, um, visiting 80 84 North Main Street in its preconstruction phase. I know sometimes we have these events and it's a little bit more sanitized, but I think it's interesting to see a project that's really in its infancy. Um, I'd also like to recognize and actually ask them to stand, both Monty and Erica Ferris, the actual owners and developers property.

Okay.

typically the rates here in gateway cities are a little bit suppressed as opposed to other areas. By having the state incentives such as HDIP, that really helps developers get to that point where they can positively cash flow. In this case, Monty was very aggressive in securing with the senator and the delegation's assistance and the governor's assistance and lieutenant governor's assistance other funding

sources. So in addition to the 1.5 million that he received in HDF funding, he was also able to get 1.5 million in historic federal historic state tax uh federal historic tax credits, 1.5 million in state historic tax credits, 958,000 in UP funding and an additional 300,000 in local CPC funding. Okay. So collectively all those funding sources make this project become a reality. And

as the lieutenant governor said earlier, this was an abandoned building. It was an eyesore. Bank Five just recently invested more than $10 million in their corporate headquarters. Across the street, we have the public uh the people's university over here to our left, which is our public library. And you can see that there's um rehab and renovation taking place there. And there's other down the street here at

the Old Eagle. Uh they received up funding for an elevator to make their second floor accessible. So there's a lot of activity taking place and the common denominator amongst all this activity is state investment. Without a state investment, none of these things would be happening. So I cannot overstate the importance of HD programs when it comes to helping facilitate and finance these these projects. And

without that we wouldn't be here today.

So I don't want to belabor this point any further. I just want to congratulate all the award all the award recipients for putting your money and reputation and experience on the um on the line because these projects are not easy. So I commend you for taking that risk. I can once again commend the Ferris family and sincerely thank the legislative delegation and the administration for

helping make these projects become a reality because without the partnership of all these pieces, this doesn't happen. So once again, thank you.

Congratulations, Monty and Erica. We look forward to coming back here in a year or so when this project is up and running and creating more vibrancy in the downtown area. Thank you very much.

I think we're hoping that we could take pictures with any of the recipients who are here. Rfield, I don't know if you want to offer a few comments. I know this Taton project's important. We can certainly uh spend some time taking some pictures together to celebrate the beginning of that. Taton's also had a number of housing units that have come online. I just really want to say thank

you to everyone for being here. Thank you to the investors who are making these uh putting these projects together and making these complex projects work.

Thank you to the local officials who are saying yes to housing. This is not happening everywhere. We need to capture hearts and minds. As the the chairman said, if we don't have enough housing, we're losing talent, and we want to do everything we can to keep talent here.

So, thanks everyone for being here.

We'll ask all the awardees to come up so we can take some pictures and celebrate this moment and look forward to seeing your actual projects when they're all completed. Congratulations again.