MassDevelopment, the state’s finance and development agency, said Monday that it has provided a $90,000 predevelopment loan to a subsidiary of real estate firm Traggorth Cos. LLC to help redevelop a Haverhill building that once was a shoe factory.
The late 1800s building has been vacant for 50 years; Boston-based Traggorth plans to use the loan to help redevelop the building into a mixed-use facility that will include 18 housing units, MassDevelopment said. Predevelopment funding will finance architectural and engineering costs.
The building is near other projects that have received MassDevelopment financing. Those projects include the Haverhill Intermodal Parking Facility, the Hayes Building, and Hamel Mill Lofts.