Development

The Development Team provides leadership and initiative in all community development activities for the agency. It consists of a diverse group of real estate and business professionals who focus on project development and design, financing strategies, competitive grant proposals, construction management, consulting services and technical assistance. SMOC’s philosophy of neighborhood-based community development has allowed the SMOC Housing Corporation to develop strong and valued partnerships across the Commonwealth.

Given the mission and strategic scale of the agency’s development approach, this development calculus has facilitated significant growth and the successful production of many new and different developments ranging from residential apartments, single person occupancy developments, mix-use buildings and commercial projects. The Development Team employs an entrepreneurial approach in competing for the most beneficial financing and program structures that contribute toward meeting both its business and social objectives. To this end, the Development Team will continue to be guided by the agency’s mission and utilize innovative development techniques and resources to achieve that goal. To see an example of recent development, download the following document:

PDF of Irving Street development


Examples of Community and Strategic Funding Partners:

  • Commonwealth Department of Housing & Community Development (DHCD)
  • Community Economic Development Assistance Corporation (CEDAC)
  • Massachusetts Housing Partnership (MHP)
  • Federal Home Loan Bank of Boston
  • MASS Housing & MASS Development
  • Federal Housing and Urban Development Agency (HUD)
  • Middlesex Savings Bank
  • Framingham Cooperative Bank
  • Bank of Western Massachusetts
  • Commerce Bank
  • Natick Federal Savings Bank
  • Town of Framingham
  • City of Worcester

Funding Sources and Financing Programs Utilized:

  • Conventional Bank Financing
  • Housing Innovations Fund (HIF)
  • Housing Stabilization Fund (HSF)
  • HOME Program (HUD production program)
  • Federal Home Loan Bank Affordable Housing Program (AHP)
  • Federal Home Loan Bank Community Development Advance (CDA)
  • MASS Affordable Housing Trust
  • Others (i.e. HOPWA, ISSI)

Some of the Development Team's Partners:

  • Bowditch & Dewey, LLC - Legal Team & General Council
  • Architectural and Engineering Firms - Design & Technical leaders
  • Koningsisor, Luciano & Associates, Inc. - Owner's Representation & Construction Advisors
  • Real Estate Consultants - specialized per development

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Development Sampler