WEBVTT

METADATA
Video-Count: 1
Video-1: youtube.com/watch?v=5DUKg0Otvig

Part: 1

1
00:00:00.960 --> 00:00:15.800
We really want to thank everybody for coming down here to 84 North Main Street, which will soon be converted into 22 market rate apartments. We have a number of dignitaries here. A few people are going to talk, but it's really important that we get out the point that these

2
00:00:15.800 --> 00:00:32.279
housing development incentive program grants are very, very important to the Gateway cities across Massachusetts. We have people here from Pittsfield, Lowell. The These monies go directly back into the communities to look at property that's in distress that's going

3
00:00:32.279 --> 00:00:47.280
to be converted into beautiful here, 22 market rate apartments. Um we're going to have historic preservation. We're going to support local businesses, and we're going to advance the production and housing goals of the uh Healey-Driscoll administration

4
00:00:47.280 --> 00:01:03.000
that so, so much wants more housing in the city so that prices will float down and people have the opportunity to come here. Um again, this is going to be a a landmark project cuz we're right down here on North Main Street as opposed to some of the other ones we've done at the

5
00:01:03.000 --> 00:01:19.240
mills and other things in Fall River. But with that being said, as everyone knows, I'm not a big talker, but I do want to introduce a very good friend to the city of Fall River. She was here the other night. I don't think she left. She probably slept over. And um she'll probably be down the end of the week

6
00:01:19.240 --> 00:01:35.520
also because uh she comes down cuz she's concerned about what's going on in all the Gateway cities, but she takes special interest in all of them, and she comes to Fall River in person to ask, "What do you need for help? What can we do to support you, and where are we going from here?" Very, very important

7
00:01:35.520 --> 00:01:56.360
to have hands-on politicians like that that don't just call us and say, "How's it going?" So, I want to introduce my very, very, very good friend, Lieutenant Governor of Massachusetts, Kim Driscoll. >> [applause] >> Hey, everyone. Good morning. Such a pleasure to be here uh for this announcement. Thank you, Mayor, for your

8
00:01:56.360 --> 00:02:13.000
not only your strong partnership, but the way you're leading. Always great to be here with you, Senator Rodrigues, somebody who never lets us forget where his district is and why it's so important that we make investments. And that's coming from the heart, and as someone who certainly led a Gateway City just a little north of here in Salem

9
00:02:13.000 --> 00:02:29.240
along the water, really value these historic Gateway Cities and what they can mean. I know Rep Fiola couldn't be here. We were together We were all together just a couple of days ago celebrating the lighting of the Braga Bridge, another investment in infrastructure here in in the district. And it's great to

10
00:02:29.240 --> 00:02:44.080
see you, Rep Field, as well, knowing that we've got a project in your in your district in Taunton. So important that we have a strong partnership with the legislature. All of the funding for our H-TIP awards comes from the Affordable Homes Act and our ability to work in partnership with each

11
00:02:44.080 --> 00:03:00.720
other to recognize what it means to invest in a Gateway City, in places that need housing. We need housing everywhere, but particularly in Gateway Cities. And many of the developments in Gateway Cities are happening in downtowns, which makes my heart really sing, knowing the vibrancy that we tie to our main streets and how that

12
00:03:00.720 --> 00:03:16.239
identifies a community. Having market-rate units or some percentage of market-rate units in our historic downtowns, frankly, in buildings that used to play prominent roles is so critical. This is an old bank, I'm told. It was one of the first banks in Fall River. And look at the craftsmanship.

13
00:03:16.239 --> 00:03:32.160
Like, you can't recreate some of this. And we're in the before stage, right? So, I can't wait to see the after stage. But this is one of the most important investments we make. Housing where people will live. That's going to help drive down cost of housing overall. But it takes a partnership to

14
00:03:32.160 --> 00:03:47.519
do that. And so today we're proud to announce $18.6 million in Housing Development Incentive Program tax credits. That's going to help create 662 new homes in six Gateway Cities in Massachusetts. They're all listed here. These are projects that would not happen without this funding. I really want to

15
00:03:47.519 --> 00:04:03.960
make that clear. These are places that have gaps, whether it's the cost of the the redevelopment or the reuse or what you can garner for rents, it just doesn't pencil out. But because of the HDIP programs, we're seeing historic investments in Gateway Cities, particularly in areas that will create that additional vibrancy, whether it's a

16
00:04:03.960 --> 00:04:20.160
mill or a downtown setting. Here, this will be the Durfee Block Apartments, one of six projects receiving HDIP fundings. They're going to be able to use the $1.5 million in tax credits to create 22 new rental homes, and that's going to be future patrons for the coffee shop I just visited down the

17
00:04:20.160 --> 00:04:36.040
street or people who can live here and work here who might not be able to do that now. It's an exciting opportunity not just for Fall River, but for all the Gateway Cities receiving awards. And frankly, there are many more before this and many more that will come after this. This is one of our more successful programs, and we're grateful to be in a

18
00:04:36.040 --> 00:04:52.400
position to help support it. Whether it's a historic building like this one or even ground-up construction, we're creating the housing we need by working together in this way. When we cut the taxes in 2023 as part of the official first official administrations bill, we

19
00:04:52.400 --> 00:05:08.760
also tripled the size of the HDIP program. That was a tax credit to go back into Gateway Cities helping with that vibrancy. As a former mayor of Salem, I was the mayor of Salem for 17 years, and so I know how hard it is to get these deals to pencil out and to get the stars to align that you have people willing to

20
00:05:08.760 --> 00:05:23.840
make the investments. These are not easy projects, particularly when you're talking about historic rehabilitation, having an an economic cycle that works to make them pencil out, and then having the state be a partner in that. That's when you see the stars are really lining up, and that's why it's so great to be here.

21
00:05:23.840 --> 00:05:40.520
This is part of how we think about collaborations. You know, we have a major housing challenge in Massachusetts across the entire Commonwealth. We've developed the first statewide housing plan. We know what we need to build. We're 100,000 units on our way since our we've taken office, but we've got another 120,000 units to go. And last

22
00:05:40.520 --> 00:05:56.960
time I checked, there wasn't a 100,000 unit development that we could rely on. So, it's projects like this. We need singles, we need triples, we need doubles all across Massachusetts to help us tackle the housing needs and that is going to drive down cost and make for more affordable housing overall everywhere. These investments are

23
00:05:56.960 --> 00:06:12.120
working. Both the policy investments we've made, whether it's allowing accessory dwelling units as of right, supporting additional investments in H-DIP, supporting first-time homebuyers with new dollars for down payments that can put people in a position to own their first home. And some of our H-DIP programs are not all

24
00:06:12.120 --> 00:06:28.200
rentals, some of those are also home ownership opportunities. So, we've got a good start on the first $100,000. We know we've got more work to do and we think this is actually the work that the state government should be doing. We can have the best policies, we can have tremendous resources, but housing gets built in communities. It gets built by

25
00:06:28.200 --> 00:06:43.520
having local leaders, committed developers who are willing to put the pieces together to take on projects and at the end of it, it's going to create a place for somebody to live and someone to serve as a a patron for a restaurant or a a coffee shop or a business that needs workers and that's the key to

26
00:06:43.520 --> 00:07:00.400
having vibrant, revitalized communities and in particular in our Gateway Cities, places that delivered for their regions. They were the major economic drivers in this region. We want to make sure we're supporting those efforts to bring them back to create that vibrancy. So, happy to be here with all of you uh

27
00:07:00.400 --> 00:07:16.520
and can't wait to come back for the ribbon cutting and see this amazing space come together uh the after as I like to call it. Uh it's now my pleasure. We are so fortunate that when we took office, we knew the importance of housing was top of the list everywhere we were. I could be in the 413 in Western Mass and where housing is

28
00:07:16.520 --> 00:07:32.480
a little bit more affordable than Eastern Mass, it was still not more affordable to the folks who were there. So, we decided to create our own housing secretariat, again with the partnership of the legislature and that's when we have a housing and livable communities uh cabinet secretariat. And they're responsible for helping drive housing. The governor's been very clear with us,

29
00:07:32.480 --> 00:07:48.800
more housing, faster. And uh we've been able to invest mightily in communities small, large, urban, rural to ensure that we're demanding the housing that we need. That doesn't happen unless you've got strong leadership leading that team, finding ways to both break down barriers, create incentives,

30
00:07:48.800 --> 00:08:05.160
and get to days like today, and the day that will come shortly after this one when we're cutting ribbons on new houses. And we're lucky to have a secretary who understands that world, who comes from us both as a former elected official and also the former secretary regional administrator here in HUD, knows housing, knows how to drive a team, and

31
00:08:05.160 --> 00:08:22.800
knows how to deliver results. Secretary Yvonne Matias, thanks for joining us. >> [applause] >> Good morning, everyone. It is wonderful to be here in Fall River to celebrate another milestone in expanding housing opportunities across our Commonwealth. Thank you to Lieutenant Governor

32
00:08:22.800 --> 00:08:38.200
Driscoll, whose relentless leadership is invaluable to our Commonwealth and who's made housing production a top top priority across this administration. Under the Healey-Driscoll administration, we are using every tool available to us to increase housing

33
00:08:38.200 --> 00:08:55.360
production, preserve affordability, and make it possible for more Massachusetts residents to live in the communities they love. I want to recognize Senate Ways and Means Chair Michael Rodrigues and congratulate him on his leadership in delivering a another strong state budget that Governor Healey will sign

34
00:08:55.360 --> 00:09:14.400
today. >> [applause] >> That budget reflects the partnership and commitment that continue to move Massachusetts forward on housing affordability and investments in communities across the Commonwealth. I'd also like to recognize, I know she can't be with with us here today, Chair Carol

35
00:09:14.400 --> 00:09:29.880
Fiola for her leadership on the Mass Wins Act, and Rep. Fields who's here with us today. And Mayor Coogan, thank you for welcoming us to Fall River and for your continued partnership in advancing housing and economic development here in the city. And to Ken

36
00:09:29.880 --> 00:09:45.280
Fiola, the developer leading this project, thank you for your vision and leadership in bringing the Durfee Block Apartments to life. Projects like this are only possible because of strong partnerships as the Lieutenant Governor mentioned with our developers, municipalities, and

37
00:09:45.280 --> 00:10:01.680
the Commonwealth. Finally, I'd like to recognize our team at HLC, our housing development team that which is led by Kate Racer. Their dedication and expertise helped turn these investments into real homes across Massachusetts. >> [gasps] >> I want to congratulate all six housing

38
00:10:01.680 --> 00:10:18.320
development incentive program awardees we are recognizing today. Durfee Block Apartments here in Fall River, 216 Canal Street in Lawrence, Franco-American School Phase 3 in Lowell, 24 to 34 North Park Square Residences in Pittsfield,

39
00:10:18.320 --> 00:10:37.040
Whittington Mill Apartments in Taunton, and Clark Block Rehabilitation in Worcester. >> [applause] [applause] >> Together, these awards represent $18.6 million in housing development incentive program tax credits and will help create

40
00:10:37.040 --> 00:10:52.480
660 new new homes across six gateway cities. These awards represent more than an investment in housing. They represent a commitment in the future of these communities and in the people who will call them home. Here in Fall River, we

41
00:10:52.480 --> 00:11:06.880
are standing inside a building with a remarkable history. Built in 1887 as the First National Bank building, this property has been part of downtown Fall River for generations. Today, it is given a new purpose. Rather than

42
00:11:06.880 --> 00:11:23.560
remaining underutilized, it will become 22 new rental homes, bringing new life to this historic building while helping to meet the housing needs of this community. That is exactly what makes HDIP such a powerful powerful tool. It helps create new housing by transforming

43
00:11:23.560 --> 00:11:40.480
vacant, underutilized, and historically significant buildings into places where people can live. It closes financing gaps as the Lieutenant Governor mentioned on projects that are often too complex to move forward without state support. And it helps Gateway Cities build on the assets they already have,

44
00:11:40.480 --> 00:11:57.160
their downtowns, historic buildings, and infrastructure, and strong local partnerships. Across Massachusetts, we know we need more housing, but we also know that the path to creating housing looks different in every community. In our Gateway Cities, the opportunity is often about transformation. It's about

45
00:11:57.160 --> 00:12:14.200
bringing new life to historic buildings, activating vacant spaces, supporting small businesses, increasing foot traffic on Main Street, and creating homes near jobs, transit, schools, and the communities people want to be a part of. That is why programs like H-Tip matter.

46
00:12:14.200 --> 00:12:30.480
From small from Fall River to Lawrence, Lowell, Pittsfield, Taunton, and Worcester, today's awardees are showing what is possible when state and local government, developers, and community partners work together. They are preserving the character of these communities while creating the

47
00:12:30.480 --> 00:12:48.080
housing our future depends on. At HLC, we are very, very proud to administer H-Tip because we see firsthand what it makes possible. We see projects move from concept to construction. We see historic buildings come back to life. We see downtowns gain new momentum. And

48
00:12:48.080 --> 00:13:03.839
most importantly, we see more Massachusetts residents gaining access to the homes in the communities they love. Congratulations again to all of today's awardees. Thank you to the city of Fall River for hosting us, to Ken Fiola and his team for their vision and partnership, and to everyone who helped

49
00:13:03.839 --> 00:13:23.360
make these projects possible. Together, we are building stronger neighborhoods, creating opportunity, and making Massachusetts a more affordable place to call home. And with that, I'd love to introduce Chairman Rodrigues. >> [applause] [applause]

50
00:13:23.360 --> 00:13:37.800
>> Thank you, Madam Secretary. Good morning, everyone. It's just so great to be here. My uh goal at all of these events is to speak shorter than Mayor Cogan. >> [laughter] >> Which is difficult because he is short and sweet and to the point, which I very

51
00:13:37.800 --> 00:13:53.680
much and we all very much appreciate. But first, thank you. Thank you to Lieutenant Governor Driscoll for being here again today. We were just together the other evening as we lit the the Braga Bridge. Thank you and uh Governor Healey. The Governor was on the She and

52
00:13:53.680 --> 00:14:10.080
I were speaking by phone as I was driving here. She is signing uh the FY27 budget as we speak. Um that um Yeah, absolutely. [applause] Most people will talk about the size of it, $63.3 billion

53
00:14:10.080 --> 00:14:25.960
investments throughout so many important areas in the Commonwealth of Massachusetts, but um it also contains thousands of line items and sections, including many addressing housing issues here in the Commonwealth of Massachusetts, primarily focused around

54
00:14:25.960 --> 00:14:41.880
streamline permitting. Um just anything we can do to make it easier, quicker, faster, and more affordable to build housing in the Commonwealth of Massachusetts, we're all focused on. Um and just not as as Lieutenant Governor said, we have a lot

55
00:14:41.880 --> 00:14:58.200
of challenges, right? Every state, every community uh has challenges, whether it's health care, health care costs, prescription drug costs, the cost of utilities and energy, but I think the greatest challenge that we really need to focus on for the future of Massachusetts is housing.

56
00:14:58.200 --> 00:15:14.440
You know, the number one demographic of out-migration in the Commonwealth of Massachusetts is the 25 to 40-year-old demographic. That's dangerous for a Commonwealth's future. And the number one reason why um these young adults are leaving the Commonwealth is the affordability of

57
00:15:14.440 --> 00:15:29.880
housing. We have to stop that. And one step at a time, uh and no one has been um has taken more of a lead on that than, uh, the, um, Healey-Driscoll administration. So, thank you. Thank you to my colleagues in government, Representative Fiola, who's

58
00:15:29.880 --> 00:15:46.040
not here, but a strong partner as we triple the allocations of H-Tip awards, um, uh, in the tax bill a couple years ago. To Representative Fields, congratulations. I know how strongly of an advocate you've been for the project, uh, in time. Uh, to the developer of

59
00:15:46.040 --> 00:16:03.720
this project, Monte Ferris, um, many emails exchanged back and forth and phone calls trying to help and support you every step of the way, and we will continue to do that. Um, and, uh, most of all, thank you to Ken Fiola, who I'm going to introduce. Where is Ken? Right

60
00:16:03.720 --> 00:16:18.880
over there. Okay, way over there. Who is really the leader in all of the development here in the city of Fall River, whether it's on the waterfront, whether it's downtown, whether it's in, uh, in the Flint section of Fall River. There's There's lots going on, and

61
00:16:18.880 --> 00:16:38.960
there's no greater champion, uh, for developing and improving the quality of life here in the city of Fall River more than Ken Fiola. So, Ken, you're up, buddy. >> [applause] >> Uh, good morning. Um, Lieutenant Governor Driscoll, Secretary

62
00:16:38.960 --> 00:16:54.120
Matias, Senator, Mayor, Representative Fields, thank you so much for, um, coming to Fall River and, um, visiting 80 84 North Main Street in its, uh, pre-construction phase. I know sometimes we have these events and it's a little bit more sanitized, but I think

63
00:16:54.120 --> 00:17:12.800
it's interesting to see a project that's really in its infancy. Um, I'd also like to recognize and actually ask them to stand, both Mon- Monte and Erica Ferris, the actual owners and developers of the property. >> [applause] >> Okay. Wi- Without their support and their

64
00:17:12.800 --> 00:17:27.959
their belief and their vision for investing in downtown Fall River, we wouldn't be here today. And I'd also like to uh, congratulate them for putting together a smorgasbord of of funding sources, right? Because these as most of the developers in this

65
00:17:27.959 --> 00:17:43.600
room know, these projects are not easy. Okay, you need as much assistance as you can get because typically the rates here in Gateway cities are a little bit suppressed as opposed to other areas. By having the state incentives such as HDIP, that really helps developers

66
00:17:43.600 --> 00:17:58.760
get to that point where they can positively cash flow. In this case, Monty was very aggressive in securing with the Senator and the delegations assistance and then the Governor's assistance and Lieutenant Governor's assistance other funding sources.

67
00:17:58.760 --> 00:18:15.240
So in addition to the 1.5 million that he received in HDIP funding, he was also able to get 1.5 million in historic federal historic state federal historic tax credits, 1.5 million in state historic tax credits, 958,000

68
00:18:15.240 --> 00:18:30.680
in UPP funding, and an additional 300,000 in local CPC funding. Okay, so collectively all those funding sources make this project become reality. And as the Lieutenant Governor said earlier, this was an abandoned building.

69
00:18:30.680 --> 00:18:47.120
It was an eyesore. Bank Five just recently invested more than $10 million in their corporate headquarters across the street. We have the public the People's University over here to our left, which is our public library, and you can see that there's a rehab and renovation taking place

70
00:18:47.120 --> 00:19:03.280
there. And there's other down the street here at the old Eagle. They received UPP funding for an elevator to make their second floor accessible. So there's a lot of activity taking place and the common denominator amongst all this activity is state investment. Without a

71
00:19:03.280 --> 00:19:19.760
state investment, none of these things would be happening. So I cannot overstate the importance of HDIP programs when it comes to helping facilitate and finance these these projects. And without that, we wouldn't be here today. So, I don't want to

72
00:19:19.760 --> 00:19:35.160
belabor this point any further. I just want to congratulate all the water all the award recipients for putting your money and reputation and experience on the on the line because these projects are not easy. So, I commend you for taking

73
00:19:35.160 --> 00:19:52.000
that risk. I can once again commend the Ferris family and sincerely thank the legislative delegation and the administration for helping make these projects become a reality because without the partnership of all these pieces, this doesn't happen. So, once

74
00:19:52.000 --> 00:20:11.920
again, thank you. Congratulations, Monty and Erica. We look forward to coming back here in a year or so when this project is up and running and creating more vibrancy in the downtown area. Thank you very much. >> [applause] >> I think we're hoping that we could take pictures with any of the recipients who

75
00:20:11.920 --> 00:20:27.040
were here. But, Field, I don't know if you want to offer a few comments. I know this Taunton project's important. We can certainly spend some time taking some pictures together to celebrate the beginning of that. Taunton's also had a number of housing units that have come online. I just really want to say thank you to everyone for being here. Thank you to the investors who are making

76
00:20:27.040 --> 00:20:42.280
these putting these projects together and making these complex projects work. Thank you to the local officials who are saying yes to housing. That is not happening everywhere. We need to capture hearts and minds as the the chairman said. If we don't have enough housing, we're losing talent. We want to do everything we can to keep talent here. So, thanks everyone for being here.

77
00:20:42.280 --> 00:20:52.429
We'll ask all the awardees to come up so we can take some pictures and celebrate this moment and look forward to seeing your actual projects when they're all completed. Congratulations again. >> [applause]