Two Fall River housing development projects have each received $2.5 million in tax credits as part of a state initiative to diversify housing stock within Gateway Cities.
Governor Maura Healey yesterday announced the distribution of $27 million in tax credits to 13 housing projects as part of its Housing Development Incentive Program (HDIP).
“We expanded the HDIP program in our tax cuts package because it has a proven track record of spurring housing development in Gateway Cities and lowering costs,” said Governor Healey. “Our Gateway Cities are vital centers for industry and culture while also being positioned to help provide the housing we need to meet the demand. These funds help make projects possible that will create hundreds of homes, revitalize neighborhoods and strengthen our communities.”
The two Fall River market-rate housing projects receiving funding are: Sacred Heart Lofts, developed by Charles Haijar of Hajjar Management Company will create 36 units in the old Sacred Heart Church at 160 Linden Street, and Union Belt Company Lofts, developed by Anthony Cordeiro of Downtown Development will build 66 units within the former Merrill Building at 66 Troy Street
Former Sacred Heart Church on Linden Street
Merrill Building at 66 Troy Street
Money for HDIP was part of the $1 billion tax cut passage approved by the legislature last fall.
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