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$4,600
47 Fiske St #A, Natick, MA 01760
5 Beds3.5 Baths3,373 SqFt
Listed by Hao Wang of Dreamega International Realty LLC
As the founder of Bridgemont Realty LLC, Benjamin Hicks leverages his extensive experience in brokerage and property management to provide advice and guidance to both commercial and residential real estate owners, buyers, and lessees. Whether he is facilitating the transaction of a multi-million dollar residence, a large commercial property, an apartment complex, a short sale, a foreclosure, or assisting a first-time commercial lessee, Ben and his team are dedicated to providing unparalleled customer service. Our technology-driven platform utilizes big data, market trends, and our exclusive database, enhancing our ability to offer the highest quality counsel and brokerage service throughout the real estate transaction.
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Kicking Off a Major Redevelopment: Curtis Apartments in Worcester, MA
The first phase of the redevelopment of a Worcester Housing Authority property. In collaboration with the Worcester Housing Authority, Trinity Financial is spearheading the transformation of the Curtis Apartments, a 70-year-old, 372-unit complex. The initial phase will see the construction of 129 units across two buildings, replacing 90 old public housing units and adding 39 new affordable units priced at 60% and 80% of the area median income. This project employs an innovative US Department of Housing and Urban Development (HUD) program called Faircloth-to-RAD. This program enables public housing authorities (PHAs) to create new federally assisted housing by merging the mixed-finance development process with the Rental Assistance Demonstration (RAD), paving the way for new affordable housing projects. The groundbreaking ceremony for this ambitious project took place on May 21, 2024. Dara Histed, Nixon Peabody's Affordable Housing & Real Estate partner, noted, “This transaction required a great deal of collaboration among parties, all of whom are deeply committed to the expansion of affordable housing in our communities. We’re proud to be involved in this project and excited to see it get underway.” Beyond navigating the Faircloth-to-RAD process, the project also involved the disposition and demolition of state public housing in Massachusetts. The financing package was complex, incorporating tax-exempt bonds, federal and state low-income housing tax credits (LIHTCs), a Bank of America construction loan, subordinate financing from the Executive Office of Housing and Livable Communities (EOHLC) and Building Futures Inc., as well as permanent and bridge loan financing from MassHousing through the HUD Risk Share program and the Middle-Income Housing program, among other funding sources. Massachusetts Housing Investment Corporation acted as the tax credit investor. Notably, Curtis Apartments is the first project to seek and obtain a real estate tax exemption in the City of Worcester East Side Tax Increment Financing (TIF) Zone, highlighting the innovative financial strategies employed to bring this project to fruition. For more information, contact: Benjamin HicksPresident & BrokerBridgemont Realty617-529-0751Ben@BridgemontRealty.com www.bridgemontrealty.com
Read more10 Cheap Places to Rent in Massachusetts and Why They Are Smart Investments
10 Cheap Places to Rent in Massachusetts and Why They Are Smart Investments Introduction Massachusetts is known for its high cost of living, but there are still areas where renting is more affordable. For investors, these locations not only offer lower initial costs but also potential for substantial returns. Here are the 10 cheapest places to rent in Massachusetts and why buying property in these areas could be a wise investment. 1. Holyoke Median Rent (1-bedroom): $1,075 Why Invest? Holyoke offers affordable real estate prices and a growing local economy. The city’s revitalization efforts, including the development of the Canal Walk and new commercial projects, are attracting more residents and businesses. 2. Springfield Median Rent (1-bedroom): $1,384 Why Invest? Springfield is the third-largest city in Massachusetts with a diverse economy and significant cultural attractions like the Basketball Hall of Fame. The city's affordable housing market makes it an attractive option for first-time homebuyers and investors alike. 3. Attleboro Median Rent (1-bedroom): $1,450 Why Invest? Attleboro, known as “The Jewelry Capital of the World,” has a robust local economy and excellent transportation links to Boston and Providence. Its affordability and commuter convenience make it a desirable location for renters. 4. New Bedford Median Rent (1-bedroom): $1,450 Why Invest? As one of the nation’s most lucrative fishing ports, New Bedford has a unique charm and a steady influx of new residents. The city is investing in its waterfront and downtown areas, enhancing its appeal to potential renters and investors. 5. Fall River Median Rent (1-bedroom): $1,500 Why Invest? Fall River is experiencing a renaissance, with new developments and improvements in infrastructure. The city’s rich history and scenic views of the Taunton River make it a great place for investment. 6. Leominster Median Rent (1-bedroom): $1,595 Why Invest? Leominster offers a suburban feel with easy access to larger cities like Worcester and Boston. The city’s affordability and strong community vibe attract families and young professionals. 7. Brockton Median Rent (1-bedroom): $1,645 Why Invest? Known as the “City of Champions,” Brockton has a strong sense of community and affordable housing. Its ongoing urban renewal projects are likely to increase property values over time. 8. Haverhill Median Rent (1-bedroom): $1,699 Why Invest? Haverhill combines historic charm with modern amenities. Its growing downtown area and proximity to New Hampshire make it an appealing choice for renters and investors. 9. Franklin Median Rent (1-bedroom): $1,700 Why Invest? Franklin offers a high quality of life with excellent schools and a strong sense of community. Its convenient location between Boston and Providence makes it ideal for commuters. 10. Andover Median Rent (1-bedroom): $1,750 Why Invest? Andover is known for its top-rated schools and beautiful neighborhoods. Although it has higher rents compared to the other cities on this list, its strong housing market and desirability make it a solid investment. Why These Areas Are Great for Investment Affordability: Lower property prices and rental costs reduce the initial investment and increase potential ROI. Economic Growth: Many of these areas are experiencing economic revitalization and growth, leading to increased demand for housing. Community and Lifestyle: These cities offer a high quality of life, with good schools, community services, and recreational opportunities, making them attractive to renters. Potential for Appreciation: With ongoing development and infrastructure improvements, property values in these areas are likely to appreciate over time. Rental Demand: The combination of affordability and proximity to larger cities ensures a steady demand for rental properties. Conclusion Investing in real estate in these affordable Massachusetts towns can be a smart move. With rising property values, growing economies, and high demand for housing, these areas offer promising opportunities for investors. By choosing to invest in these cities, you can enjoy lower initial costs while positioning yourself for significant long-term gains. For personalized advice and to explore investment opportunities, feel free to contact me: Benjamin Hicks 📞 Cell: 617-529-0751 📧 Email: Ben@BridgemontRealty.com Let’s discuss your real estate goals and make the most of the current market trends!
Read moreWhy Now is a Good Time to Sell Your Property in Worcester, MA
Why Now is a Good Time to Sell Your Property in Worcester, MA Introduction Worcester, Massachusetts, has become an increasingly attractive market for both buyers and sellers in recent years. The combination of rising property values, a robust local economy, and a high demand for housing has created an ideal environment for homeowners looking to sell. Here's why now is the perfect time to put your property on the market in Worcester. Rising Property Values Over the past few years, Worcester has seen significant appreciation in property values. According to Zillow, the median home value in Worcester increased by approximately 10.5% over the past year and is projected to continue rising. This steady growth makes it a prime time for sellers to capitalize on their investments. High Demand for Housing Worcester's real estate market is experiencing a high demand for housing, driven by several factors: Population Growth: Worcester's population has been steadily increasing, leading to greater demand for residential properties. Affordable Alternative: As housing prices in Boston and surrounding areas soar, many buyers are turning to Worcester as an affordable alternative, boosting the demand for homes in the city. University Influence: With several colleges and universities in the area, including Worcester Polytechnic Institute and Clark University, there is a constant influx of students, faculty, and staff looking for housing. Strong Local Economy Worcester boasts a strong local economy, supported by diverse industries such as healthcare, education, biotechnology, and manufacturing. The city is home to major employers like UMass Memorial Health Care and Saint Vincent Hospital, which provide stability and job opportunities, attracting more residents to the area. Favorable Market Conditions Current market conditions in Worcester favor sellers for several reasons: Low Inventory: The inventory of available homes for sale in Worcester is relatively low, creating a competitive environment among buyers and driving up property prices. Quick Sales: Homes in Worcester are selling quickly, often within days of being listed, due to the high demand and limited supply. High Offers: Sellers are receiving multiple offers, often above the asking price, giving them the leverage to negotiate favorable terms. Improvements and Developments in Worcester Worcester has seen significant improvements and developments in recent years, enhancing its appeal as a place to live and invest: Downtown Revitalization: The city has invested in revitalizing its downtown area, attracting new businesses, restaurants, and entertainment options. Transportation Upgrades: Worcester's transportation infrastructure has been upgraded, making it easier for residents to commute to Boston and other nearby cities. Community Initiatives: Worcester's commitment to community initiatives and quality of life improvements has made it an attractive destination for families and young professionals. Conclusion With rising property values, high demand for housing, a strong local economy, and favorable market conditions, now is an excellent time to sell your property in Worcester, MA. By taking advantage of the current market trends, sellers can maximize their returns and move on to their next investment or home with confidence. If you're considering selling your property, consult with a local real estate expert to get a comprehensive market analysis and personalized advice on how to make the most of this opportune time. Don't miss out on the benefits of selling in Worcester's thriving real estate market. Please contact me to discuss your real estate goals! I would be pleased to help you achieve them! 📞 Cell: 617-529-0751 📧 Email: Ben@BridgemontRealty.com Looking forward to helping you make your real estate dreams come true!
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