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The City of Worcester has launched a new program to help triple decker owners and developers rehabilitate properties through funding and guidance.
The initiative, dubbed Worcester Housing Now, is aimed at existing properties throughout Worcester in an effort to shore up affordable housing. According to the city, deferred maintenance on many of these properties has led to resident health issues, blighted and vacant buildings and units, and disinvestment in neighborhoods.
“While there is great excitement for all the new development happening in our downtown, we must ensure all residents have safe and healthy living conditions,” said Mayor Joseph Petty in a press release announcing the new program. “Triple deckers are the soul of Worcester, and bringing back offline units will provide some immediate relief to the lack of affordable rental unit availability.”
Worcester Housing Now has eight resources designed to help both owner-occupied multi-family housing as well as provide responsible developers with streamlined access to capital for revitalizing troubled properties. Some of these resources have funding sources attached to them, while others are designed to provide guidance to those rehabilitating properties in the city.
The resources are:
An informational meeting on the Worcester Housing Now program will be held from 3-5 p.m. on Tuesday, Nov. 12 at Worcester City Hall.
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Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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