New Markets Tax Credit Coalition

The Charles River Speedway Rehab

The redevelopment of the old racetrack at Western Avenue and Soldiers Field Road.

Investment

  • NMTC Amount: $7,350,000
  • Total Project Cost: $13,370,000

IMPACT

  • 35 FTE jobs
  • 67 construction jobs
  • 25,000 sq. ft. of real estate

Investor

Project Description

The redevelopment of the old racetrack at Western Avenue and Soldiers Field Road will include a Notch Brewery outpost. The most prominent feature of the multifaceted project—dubbed the Speedway—will be an outpost of the Salem-based Notch Brewery, including a taproom. Altogether, the Speedway is expected to have 17,000 sq. ft. for smaller retailers, artisans, food vendors, and one full-service restaurant.

The sq. ft. is also expected to host event and community space. All of this is due to center around an 8,000 sq. ft. courtyard with seating

MAP

Address: 525 Western Avenue, Brighton, MA 2135

Census Tract: 25025000100

Other Massachusetts Projects

The NMTC allocation financed Trinity’s rehabilitation of the historic Brockton Enterprise building, transforming the space into a 51,000-sq. ft. commercial building with retail space on the first floor.
New Garden Park is now home to Quinsigamond Community College.
The redevelopment of the old racetrack at Western Avenue and Soldiers Field Road.
NMTC financing supported the construction of The Greater Boston Food Bank