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Worcester Polytechnic Institute is intending to purchase two private hotels in the Gateway Park area of the city and plans to convert them into student housing. Local government and business leaders, led by the Economic Development Coordinating Council, have been vocal in their opposition to the sale. The site had been cleaned of environmental contamination using public funds, and if WPI owns the site, the nonprofit college will be exempt from paying property tax. The conversion would reduce the number of hotel rooms in the city, but it would increase the amount of housing; and Central Massachusetts is in the midst of a housing shortage crisis.
Worcester Polytechnic Institute is intending to purchase two private hotels in the Gateway Park area of the city and plans to convert them into student housing. Local government and business leaders, led by the Economic Development Coordinating Council, have been vocal in their opposition to the sale. The site had been cleaned of environmental contamination using public funds, and if WPI owns the site, the nonprofit college will be exempt from paying property tax. The conversion would reduce the number of hotel rooms in the city, but it would increase the amount of housing; and Central Massachusetts is in the midst of a housing shortage crisis.
Wealthy private institutions like WPI should be required to pay real estate taxes just like everyone else. They benefit from all of the city services just like everyone else, so they should be required to pay just like everyone else. By exempting those wealthy private institutions from real estate taxes, that means that people who are struggling to make ends meet end up paying higher amounts to cover what those institutions are not paying.
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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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I am disgusted with the greed and "high-mindedness" of all the colleges in Worcester. Our city leaders continue to be too trusting of the intentions of too many people --as evidenced in the cases of Polar Park and the "Gateway " area development. The colleges here provide little benefit as far as many of us are concerned-at least little benefit to the residents of Worcester who are middle class--working class--and lower income-which is most of us!