August 11, 2010
Leominster Project Gets $1M Boost
By Matthew L. Brown
MassDevelopment has loaned $1 million toward the renovation of a once blighted property at 40 Spruce St. in Leominster.
Property owner 40 Spruce Street LLC will use the funds to fix up the 20,000-square-foot second floor of the building for a new tenant, Community HealthLink, a human services agency affiliated with UMass Memorial Health Care.
The loan comes from MassDevelopment's New Markets Loan Fund and is the second such loan MassDevelopment has given the project. In 2008, it loaned 40 Spruce Street $1.2 million to finance the acquisition of the property and the first phase of its redevelopment.
The City of Lemonister is using Community Block Grants to make street and sidewalk improvements in the Spruce Street area.
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