28 Petronelli OZ Fund LLC

  • MA-copy

Project Category: Substantial Improvement Property

  • Summary

    Plan to develop an Opportunity Zone building located at 28 Petronelli Way, Brockton, MA into 18 market-rate rental housing apartments. The Property is located in the heart of downtown Brockton, next to the commuter rail station to Boston (35minutes travel time), and will directly serve the rental housing needs of the Boston region’s growing economy. This building qualifies for Historic Tax Credits.

  • Details
    Project Qualification: Substantial Improvement Property
    Real Estate: Residential
    Total Capital Required: $8,900,000
    Equity Required: $1,900,000
    Debt Required: $3,200,000
    Project Control: We own all the key property
    Timeline: More than 360 days
    File: MA-III-1.pdf
    Website
     Address: 28 Petronelli Way Brockton Massachusetts 02301 United States
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  • Project Narrative
    Project Narrative:

    The building is a historic four-story brick structure with an elaborate
    Romanesque Revival façade and will contribute to and benefit from the City’s plan to completely change the perception of the downtown area to that of a thriving, attractive place to live and do business. This project qualifies for multiple tax incentives and will benefit from its proximity to Boston and Cambridge.