MassDevelopment

Gateway Cities

[TDI] Year 2

Program Update

November 2016

Brownfield

Redevelopment

Fund, Cultural

Facilities Fund,

Manufacturing

Futures Fund

© 2016 MassDevelopment 2

Key Programs for Gateway Cities

FY 2016—Agency Results

MassDevelopment Overview

Job Creation: Over 22,000 new

permanent/construction jobs created

Housing Development: Over 4,200 units

built/substantially renovated

Financing: Nearly $4.0B in total support to

businesses and non-profits that employ over

125,000 workers

Regional Support: Over 100 cities & towns

supported to catalyze redevelopment

Gateway Cities: Over $700M in total support to

business & nonprofits creating more than 3,300

jobs

Finance

Programs

Real Estate

Planning &

Development

TDI

Gateway Cities are a critical part

of the Commonwealth

© 2016 MassDevelopment

Gateway Cities are still relevant

for investment

© 2016 MassDevelopment

Gateway Cities

Transformative

Development

Initiative

[TDI]

Progress Update & Year 2 Update : November 2016

6

[TDI] An integrated

place-based approach

designed to implement

locally initiated, strategic,

catalytic, and sustainable

revitalization activities.

[TDI] Districts in Development

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Designated by

MassDevelopment

Review Committee on

12/5/14, approved by

MassDevelopment

Board on 12/10/14

Each District Gets:

2014: 10 +2

Districts

selected via

‘Call for

Districts,’ from

26 applications

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60+ TDI District

Partner

Organizations

6 TDI Fellows

2 Adjunct Fellows

15+ Enhanced

MassDevelopment

Staff Support

Partnership & Capacity

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Cumulative 12.1.16

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105 TDI Events

1000+ District

stakeholders

engaged at events

750 1-on-1

750 Newsletter

subscribers

Community Engagement

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Cumulative 12.1.16

10

District Focus

$1.3M

Technical Assistance

$95K 17

TDI Places Awards

$3M

Equity Investments

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[TDI] Focused Approach—Tool Box

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[TDI] Focused Approach—Tool Box

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40+ Agencies engaged

2 Coordinating Listserves

$1.7M 33

TDI Cowork Awards

$33M

MassWorks

$25M+Additional

Invested/Leveraged

1 DIF District

6 National Partnership

(NRN) assistance efforts

Cumulative 12.1.16

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[TDI] INITIATIVE PROGRAM

Business

Growth

Equity

Investments

Technical

Assistance

MassDevelopment RE Services, ULI TAP

TDI District Customized TA

TDI Fellows

TDI Investments Strategic and TDI District focused Controlling Interest Master Leases, Site

Acquisitions & Assembly, Joint Venture Development

MassDevelopment: Analysis & Feasibility

Predevelopment

MassDevelopment Business Financing

Pilot programs to support businesses

TDI Cowork Collaborative Workspaces

New

T

ools: T

ra

nsform

ative D

evelopm

ent Fund

E

xisting T

ools

TDI Places

Partner Agency Programs Partner Investments

Partner Grants, Loans, MicroFinance ©

2016 M

assD

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pm

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build

engagement

sustain

momentum

catalyze

investment

Medium Term Long Term

Financing & TA for

Business Growth

Capacity: Implement-

ation (Fellows!)

Modest RE

Investment

in Strategic

Locations

Place-making

Cowork

Customized

Technical

Assistance

Stronger Identity

Resilient public-

private

partnerships &

enhanced District

Management

Increased Activity

New Businesses

Short Term Steps

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Y1 Y2 Y3

Increased Tax Base

Higher Valuation

Jobs & Opportunities

Higher Median Incomes

Increased private investments

FUTURE:

[TDI] 3-YEAR PROCESS

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PRELIMINARY PLANNING WORK

MARKET STRATEGY

RETAIL

SUPPORT

TEST FITS

DIF/BID &

HISTORICAL DISTRICT SET UP SUPPORT

INVESTOR PROSPECTUS

‘DEVELOP INCENTIVE PACKAGE’

RECRUITMENT SUPPORT & MARKETING

• All scopes tailored to the specific needs of district

• All deliverables focused on implementable steps!

[TDI] Transformative Development Initiative

District Trajectories: YEAR 1-2

Approximate Scope of Planning Work

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Haverhill Springfield Lynn

Brockton

Pittsfield

Holyoke

Revere

Worcester Peabody

URBAN

REALM

DESIGN &

PROJECT

FEASIBILITY

ACTIVE USE

STRATEGY

TEST FITS &

REDEV

PROFORMAS

New Bedford

Fellow Year 1

Malden/Everett

Fellow Year 2

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[TDI] Transformative Development Initiative

Technical Assistance

Workshops

© 2013 MassDevelopment 16

[TDI] Transformative Development Initiative

TDI Assistance: Lynn

© 2016 MassDevelopment

Brockton:

-Downtown Action

Strategy

- Revitalization Plan

-DIF District Set-up

Follow on TA:

-Public Realm

Improvements &

Programming

-Retail Biz Support

-Market Strategy &

Identity

Haverhill:

-Urban Design Plan

& Redevelopment

-Test Fits/Market

Evaluation

Follow on TA:

-Redevelopment

investment strategy

-DIF District Set-Up

-Market Strategy

-Active Uses

Strategy

Holyoke:

-Market Strategy,

-Active Use

Strategy

-Building

Redevelopment

AnalysisFollow on TA:

TBD

Lynn:

-Urban Design &

Redevelopment

Test Fits

Follow on TA:

-Market Strategy &

Identity

-Public Maker

Market Feasibility

-Retail Biz Support

-DIF & Historic

District

New Bedford:

-Active Use

Strategy

Follow on TA:

-Purchase Street

Activation

-Updated Test Fits

-Retail Biz Support

-DIF District Set up

-Housing Market

Strategy

90% 90% 100%

*Prioritization and final scope for next year being discussed with TDI Partnerships in each

District. Below is an indication of direction. TDI Districts are in alphabetical order

100% 100%

[TDI] Transformative Development Initiative

TDI Assistance: Year 1-3

© 2016 MassDevelopment

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Peabody:

Flood Resilient

Urban Landscape

Strategy

Follow on TA:

-Redevelopment

Test Fits

-Refined Riverwalk

Implementation

Strategy

-Historic/DIF District

Set up

Pittsfield:

Residential

Neighborhood

Corridor

Revitalization Plan

Follow on TA:

-Market strategy for

district amenities/

restaurants

-Test fits with

programming

feasibility

-Residential housing

upgrade program

Revere:

Active Use Strategy

& ULI TAP

Redevelopment

Strategy

Follow on TA:

-Retail biz support,

-Marketing/identity

support

-District Financing

Feasibility ,

Organizational Plan

& DIF District Set up

Springfield:

Market and Active

Use Strategy

Follow on TA:

-Parking

Consolidation and

Marketing Strategy

-Marketing/Identity

-Upper Floor

Utilization Strategy

(DIF)

Worcester:

-Active Use Strategy

& Building

Redevelopment

Strategy

Follow on TA:

-Marketing/Branding

& Parking Strategy

-Retail Recruitment

Prospectus

-Retail Business

Support

-Historic District, DIF

90% 40% 100% 100% 100%

[TDI] Transformative Development Initiative

TDI Assistance: Year 1-3

© 2016 MassDevelopment

© 2016 MassDevelopment 19

$10,000

Award

‘Parklet’ to provide

new Main St Activity

& New Repeat

Customers to

Businesses

2 Business Pop Ups

& Permanent

Storefront Activation

[TDI] Transformative Development Initiative

TDI Places: Peabody

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[TDI] Transformative Development Initiative

TDI Places: Peabody NOW

© 2016 MassDevelopment

[TDI] Transformative Development Initiative

Capacity: Fellows Program

• 6 Fellows + 2 Adjunct Fellows

• 3-Year Workplan set with TDI Partnership & MassDevelopment

• Cohort Building

• Visits to each district, related cities

• Weekly calls—independent & with director

• Developing ‘Cohort Pilot Project’: Storefront Activation21 © 2016 MassDevelopment

© 2013 MassDevelopment 22

Stearns Square, Springfield

First in a pipeline—

catalyzing additional

investments:

• Stabilizing building

• Providing tenants for seeding Dining

District

• City will upgrade Stearns Square

Park

• BID to provide Stearns Square

District Improvement Fund

• TA Services for Parking/Wayfinding

• City starting Restaurant Loan Fund

[TDI] Transformative Development Initiative

Equity Investment Program

© 2016 MassDevelopment

Available on MassDevelopment website:

http://www.massdevelopment.com/assets/pdfs/annual-reports/TDI_report_022016.pdf

[TDI] Transformative Development Initiative

Progress Evaluation: ‘Little Data’

Initial Report 2016:

Baseline Data Profiles (left)

Coming:

• Local Data Collection

Update

• Mapping ‘Inventory’

• Surveys

• Case Studies

© 2013 MassDevelopment 24

[TDI] Transformative Development Initiative

New Visualization: Mapping

25

[TDI] INITIATIVE PROGRAM: YEAR 2!

Business

Growth

Equity

Investments

Technical

Assistance

MassDevelopment RE Services, ULI TAP

TDI District Customized TA

TDI Fellows

TDI Investments Strategic and TDI District focused Controlling Interest Master Leases, Site

Acquisitions & Assembly, Joint Venture Development

MassDevelopment: Analysis & Feasibility

Predevelopment

MassDevelopment Business Financing

Pilot programs to support businesses

TDI Cowork Collaborative Workspaces

New

T

ools: T

ra

nsform

ative D

evelopm

ent Fund

E

xisting T

ools

TDI Places

Partner Agency Programs Partner Investments

Partner Grants, Loans, MicroFinance

© 2016 MassDevelopment

[TDI] Cowork: New Bedford – Groundwork!

© 2016 MassDevelopment 26

$150,000

Award

$150,000

Match

46 members (9/16)

40+ events

1 Accelerator

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[TDI] YEAR 2 PROPOSALS

SMALL BUSINESS SUPPORT TOOLS

Storefront Improvement Enhancement

Program

Providing wrap around services

on existing municipal

programs, share best practices

Enhanced District

Visibility: Marketing/

Wayfinding & Public Realm Improvements

Funding for TA recommended pilot projects

“Lease it Local” Small

Business Support/Filling

Vacant Storefronts

Small short term finance ‘runway’

for entrepreneurial ventures

Small Developer

Workshops & Industry

Recruitment Events

Increase pipeline and build capacity

of small developers &

provide increased visibility to districts

MassDevelopment

THANKS YOU!