50 Prescott Street

New Markets Tax Credit Coalition

Worcester,
MA
(2011)

50 Prescott Street

Business Development, Manufacturing

This innovative financing package helped fund construction of a 95,000-sq. ft. wet lab at Gateway Park in Worcester, which is expected to create 40 jobs.

Investment

NMTC Amount: $8,365,500
Total Project Cost: $31,279,730

IMPACT

140 FTE jobs
88 construction jobs
95,000 sq. ft. of real estate

CDEs

MassDevelopment

Investor

Unknown

Project Description

This innovative financing package helped fund construction of a 95,000 sq. ft. wet lab at Gateway Park in Worcester, which is expected to create 40 jobs. Gateway Park is agrowing center for research, development, and innovation, and had been nationally recognized as a model for environmental stewardship and urban development.

MAP

Address: 50 Prescott Street, Worcester, MA 1605

Census Tract: 25027730500

PDF Profile

Other Massachusetts Projects

Telegram and Gazette Building

Worcester,
MA
(2014)

Adult Education, College or Vocational Training, Community, Historic Rehabilitation, Mixed-use

CDE(s): MassDevelopment, MHIC, USBCDE

New Garden Park is now home to Quinsigamond Community College.

A.D. Makepeace Company

Wareham,
MA
(2010)

Timber and Agriculture

CDE(s): Rockland Trust

The A.D. Makepeace Company, based in Wareham, is the world’s largest cranberry grower, the largest private property owner in eastern Massachusetts, and a recognized leader in environmentally responsible real estate

Lawrence CommunityWorks

Lawrenceville,
MA
(2024)

Community, FQHCs, Grocery and Fresh Food, Healthcare, Retail, Retail and Commercial

CDE(s): Mascoma Community Development, Raza Development Fund

Lawrence CommunityWorks is set to transform this historic mill into a hub of activity and growth.

Elms College Center for Natural and Health Sciences

Chicopee,
MA
(2012)

Adult Education, College or Vocational Training, Community

CDE(s): MHIC

Elms College used the NMTC to construct a new Center for Natural and Health Sciences.