470 Main Street

Fitchburg,
MA
(2007)

470 Main Street

Community, Historic Rehabilitation, Housing, Mixed-use, Mixed-use and Commercial

Renovation of a historic 5-story building which now serves as its headquarters in the center of downtown Fitchburg.

Investment

NMTC Amount: $11,650,836
Total Project Cost: $13,436,563

IMPACT

38 FTE jobs
60 construction jobs
Rehabilitation of a vacant or under-utilized historic structure.

CDEs

MHIC

Investor

TD Bank

Project Description

Twin Cities Community Development Corporation is the developer of this renovated historic 5-story building which now serves as its headquarters in the center of downtown Fitchburg. The project involved the adaptive re-use of a historic office building for 31 units of housing (8 of which are affordable) on the upper floors, a TD Bank branch on the ground floor and Twin Cities’ offices and program space on the ground floor and basement levels. MHIC financed this project with $11.65 million in New Markets and federal historic tax credits and a bridge loan against the sale of state historic tax credits. Completion of this project adds considerably to the revitalization of downtown Fitchburg and adds vitally needed rental housing units to this city hard hit by the foreclosure crisis.

MAP

Address: 470 Main Street, Fitchburg, MA 1420

Census Tract: 25027710700

Other Massachusetts Projects

YMCA Southcoast, Inc.

Fall River,
MA
(2013)

Community, Daycare and Early Childhood, Mixed-use, Recreation, YMCAs and YWCAs, Youth and Families

CDE(s): MassDevelopment, MHIC

With MHIC's New Markets financing, the YMCA Southcoast, Inc. rehabilitated and preserved the historic character of the building it has occupied for 115 years.