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Rockland Trust Provides $20M to Repurpose Underutilized Buildings in Worcester
Rockland Trust has provided more than $20 million in combined construction loans to Anthony Rossi of 13 Sudbury Realty, LLC, and Herman St. Development for the redevelopment of two properties located in Worcester, MA.
The capital will be used for the renovation a former DCF building on Sudbury Street and of a former manufacturing factory on Hermon Street. Both properties will be transformed into residential communities.
“The City has worked hand-in-hand with developers such as myself to repurpose abandoned and unutilized vacant buildings so that they can be redeveloped into high-end buildings with great amenities,” said Anthony Rossi, CEO of Rossi Development.
The Sudbury Street project consists of renovations totaling $13.3 million. Once complete, it will offer over 100 units.
The Hermon Street project consists of $7.8 million in renovations. Once complete it will offer 57 units across multiple buildings connected by an enclosed catwalk, along with a restaurant and residential boutique food market.
Photo: 33 Hermon Street
- ◦Development
- ◦Financing
