By Bob Katzen

Gov. Healey announced $15.3 million in Commercial Conversion Tax Credit Initiative awards to support five projects that will transform vacant or underutilized commercial properties into 856 new rental homes in Boston, Dedham, Springfield, Westford and Worcester.

“Massachusetts has buildings sitting empty and communities that need more homes. These awards will put underused properties back to work, create 856 new apartments and help bring more residents, customers and energy to downtowns and commercial districts across the state. By making smart use of the spaces we already have, we can build more housing, strengthen local economies and lower costs.”

“The reality is that many commercial conversion projects are difficult to finance even when the sites are in prime locations, have community support and ready to move forward,” said Housing and Livable Communities Secretary Juana Matias. “The Commercial Conversion Tax Credit Initiative helps close that gap. This second round of awards will not only unlock another 856 homes, but will preserve historic buildings, support transit-oriented development and help revitalize downtowns across Massachusetts.”