MassDevelopment, the state finance and development agency charged with seeking to stimulate economic growth across the Commonwealth, said it has invested $26.13 million in housing and health center projects in downtown Brockton.
The agency said it issued a $9.7 million tax-exempt bond on behalf of and provided a $7 million New Markets Tax Credit allocation to Trinity Financial’s Enterprise Block redevelopment and issued a $9,431,000 tax-exempt bond on behalf of the Brockton Neighborhood Health Center.
Trinity Financial, a Boston-based developer, will use bond proceeds to build a 42-unit artist live/work apartment building on the site of the former Gardner Building at 62 Centre St., MassDevelopment said. The New Markets Tax Credit allocation will finance Trinity’s rehabilitation of the historic Brockton Enterprisebuilding, with the plan of turning the space into a 51,000-square-foot commercial building with retail space on the first floor.
During fiscal 2013, MassDevelopment said it financed or managed 350 projects generating investment of more than $2.4 billion in the Massachusetts economy. These projects are projected to create more than 7,000 jobs and build or rehabilitate 800 residential units.