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Trending developments vol 5 issue 03
- 1. New HD Zone Approved 2 Fall River by the Numbers 3 FRRA Approves RFP for City Pier 4 Fall River’s Finest 4 Inside this issue: March 2016Volume 5, Issue 3 F A L L R I V E R O F F I C E O F E C O N O M I C D E V E L O P M E N T Trending Developments FROED Board of Directors: Officers Mayor Jasiel Correia, II, Chairman/Ex-officio Frank Marchione, President James M. Karam, Vice President Carlos A. DaCunha, Treasurer Alan F. Macomber, Clerk At-Large Members Joseph Baptista Paul C. Burke Francisco Cabral Nicholas M. Christ Robert Cooper Mark Cordeiro Larry Couto Bruce Fernandes Alfredo M. Franco Craig A. Jesiolowski Michael Lund George Matouk, Jr. Paul S. Medeiros Joan Menard Kenneth R. Rezendes Anthony Riccitelli Joseph Ruggeiro, Sr. Ron Rusin James P. Sabra Len Sullivan Ex-Officio Members Shawn Cadime Carl Garcia Craig A. Jesiolowski Atty. William G. Kenney Meg Mayo-Brown John J. Sbrega James Wallace Non-Voting Members Robert A. Mellion FROED Staff: Kenneth Fiola, Jr., Esq. Executive Vice President Janet A. Misturado, Director of Administration Maria R. Doherty, Network Administrator Lynn M. Oliveira, Economic Development Coordinator Michael Motta, Technical Assistance Specialist Fall River Office of Economic Development One Government Center Fall River, MA 02722 Phone: (508) 324-2620 Fax: (508) 677-2840 http://froed.org Governor Charlie Baker filed legislation to fund $200 mil- lion for road and bridge pro- jects for cities and towns throughout Massachusetts. From this amount $27.5 mil- lion has been earmarked for projects in Fall River. Specif- ically, $20 million for State Pier improvements and $7.5 million for the City Pier pro- ject. The $20 million earmarked for the State Pier will be used for capital improvements in- cluding the construction of a south basin, the rehabilitation and replacement of all marine structures for Battleship Cove, commercial fishing improvements, and commercial marine transpor- tation improvements. At the City Pier, the $7.5 million investment will be used for the capping of the site, stabilization of the ex- isting seawalls and infra- structure on the site. The site is slated to accommodate a public marina. There has been a great deal of development taking place on Fall River’s waterfront in the past few years including the new Veteran’s Memorial Bridge, development of Commonwealth Landing, a new pump station and public amenities at Bicentennial Park, updated boardwalk, City of Fall River Stands to Receive $27.5 Million for Waterfront Projects Looking for a job? Visit froed.org then select the “Current Employment Opportunities” tab. Next click “Job Search” and this will launch an interactive database. Within this database alone there are currently 982 employment opportunities within a 5 mile radius of Fall River. 982 Jobs Available Above: Aerial view of the Fall River City Pier.
- 2. Page 2 Trending Developments On Tuesday, March 8, 2016 the Fall River City Council unanimously ap- proved the application for a second Housing Develop- ment Zone within the City of Fall River. The initial Waterfront/Downtown Housing Development Zone was established in 2014. The Housing Development Incentive Program (HDIP), established as M.G.L., Chapter 40V, provides Gateway Cities with a de- velopment tool to increase residential growth, expand diversity of housing stock, support economic develop- ment, and promote neigh- borhood stabilization in designated areas. The pro- gram provides two tax in- centives to developers to undertake substantial reha- bilitation of properties for lease or sale as multi-unit market rate housing: ? A local-option real estate tax exemption on all or part of the increased property value resulting from improvements (the increment), and ? State tax credits for Qual- ified Substantial Rehabil- itation Expenditures (QSREs) that are award- ed through a rolling ap- plication process. $27.5 Million for Waterfront Projects (Continued from Page 1) development of the Cove Restaurant, Fall River Carousel updates, Battle- ship exhibit improve- ments, ferry service from the State Pier, and the ac- celerated bridge project, among others. Fall River Office of Eco- nomic Development Ex- ecutive Vice President Kenneth Fiola, Jr. is pleased with the funding announcement stating, “On behalf of the City, I want to thank the Gover- nor for proposing this leg- islation and hope that our local delegation can mus- ter enough support amongst their peers for its passage. The City’s wa- terfront is a significant asset and we are working hard to ensure the water- front’s full potential is reached. We have seen significant investment in the waterfront on the pri- vate, local, state and fed- eral levels, but there is still significant work to be done. We are thrilled to be able to move forward on the City Pier project, which is a key component of the overall redevelop- ment of the waterfront.” For the City of Fall River it is a program that will be especially useful in repur- posing the city’s abundant mill inventory. It is esti- mated that there are approx- imately 25 mills within the newly established HD3/ Central Housing Develop- ment Zone. The incentives are not sole- ly available to mill proper- ties, the program is offered to any project where market rate units will be created or improved with an invest- ment of at least $30,000 per unit. Mayor Jasiel F. Correia has been outspoken regarding his interested in creating market rate housing oppor- tunities within the City to attract young professionals and empty nesters to Fall River. The approval of this zone is another tool the City can offer to developers when marketing mill prop- erties. The application will now be sent to the Massachusetts Executive Office of Hous- ing and Economic Develop- ment for final approval. Fall River Approves Central Housing Development Zone
- 3. Page 3 Trending Developments Fall River by the Numbers… Housing Comparison Source: Areavibes.com City Median Home Price Median Rent Average Household Size Owner Occupied Households Renter Occupied Households Fall River $247,600 $699 2.4 37.6% 62.4% New Bedford $228,400 $762 2.4 43% 57% Brockton $237,300 $1,022 2.8 58% 42% Taunton $260,000 $883 2.5 63% 37% Providence, RI $214,800 $910 2.7 36% 64% Massachusetts $335,500 $1,056 2.4 63.2% 36.8% United States $181,400 $889 2.6 65.5% 34.5% 0 200 400 600 800 1000 1200 Median Rent Median Rent 0 50000 100000 150000 200000 250000 300000 350000 400000 Median Home Price Median Home Price
- 4. One Government Center Fall River, MA 02722-7700 Phone: 508-324-2620 Fax: 508-677-2840 E-mail: info@froed.org Mission statement of the Fall River Office of Economic Development: Incorporated in 1978 as a 501(c)(4) corporation to promote the prosperity and general welfare of the citizens of Fall River through the stimulation of economic strength and expansion of new and existing business. Keeping Fall River working in Fall River. F A L L R I V E R O F F I C E O F E C O N O M I C D E V E L O P M E N T For more information please visit our website: www.froed.org Page 4 The Fall River Redevel- opment Authority (FRRA), the entity which owns the Fall River City Pier, has approved a Re- quest for Proposals (RFP) for the next phase of de- velopment for transient dockage along Fall River’s waterfront. Spe- cifically, the RFP seeks qualified candidates for the conceptual design, permit-level design, and environmental regulatory permitting for the pro- posed transient dockage. The consultant will work collaboratively with the FRRA to develop a con- ceptual design layout plan for public recreational boating facilities includ- ing a mooring area and transient dockage. Once this plan is accepted by the FRRA the consult- ant will prepare a permit- level design and layout with technical input from the Fall River Harbormas- ter. In addition, the consultant will be responsible for leading and executing all efforts related to environ- mental regulatory permit- ting for the project. The design and permit phase of the project is expected to take approxi- mately 9 months to com- plete. The consultant will work closely with the FRRA on a mutually agreeable time table for the various aspects of the project. It is expected that the RFP will be issued the week of March 14, 2016 and will be available in the City of Fall River Pur- chasing Department. All inquiries should be di- rected to the Purchasing Department at 508-324- 2251. Born in 1887, Artie Butler was raised in Fall River, which is also where he began his base- ball career that escalated all the way to the major league. Butler was born to William and Olympe Bouthillier and changed his last name for ca- reer purposes. He married Laura Dumas. Butler began his career in Fall River before being traded to the Boston Braves in 1911. Fall River wanted Butler re- turned, but he was instead traded to the Pittsburg Pirates. He remained in Pittsburg until 1914 when he was traded to the St. Louis Cardinals. In St. Louis he was roommates with the great Rogers Hornsby. Butler played six seasons in the majors in a total of 454 games and a lifetime batting average of .241 and 54 stolen bases. Butler was utilized in a number of positions through- out his career including second base, short stop, third base and outfield. Upon retirement he returned to Fall River where he lived until his death at age 96. At age 94 Butler received a letter from President Ronald Reagan congratulating him on being the oldest living retired base- ball player. Butler is buried in the Notre Dame Cemetery in Fall River. Fall River’s Finest: Arthur Edward “Artie” Butler FRRAApproves RFP for City Pier Work