|28 Petronelli OZ Fund LLC
|Fund Manager or Organizer(s)
|Concord Square Planning & Development, Inc.
Commercial Real Estate, Multifamily Residential
|Additional Fund Details
|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 (35 minutes travel time). It will directly serve the rental housing needs of the Boston region’s growing economy. The building is a historic four-story brick structure with an elaborate Romanesque Revival façade. The project will enjoy historic and development tax credits. It will also contribute to and benefit from the City’s plan to completely change the downtown area’s perception to that of a thriving, attractive place to live and do business. Today 500 new housing units have been built, are under construction, or about to be under construction. The majority are or will be market-rate units. A significant driver of this turnaround is the increasing demand for housing options near transit stations.
|Concord Square Planning & Development, Inc. is a real estate development and planning firm specializing in smart growth and adaptive reuse projects. It has extensive experience developing, finance, constructing, and managing multifamily housing, particularly utilizing historic tax credits and the opportunity zone program. Also, Concord Square and Ted Carman, the company’s President, have supported regional development and housing efforts through consulting work for over fifty municipalities and private entities and have worked on major public policy issues.
Currently, Concord Square is focused on pursuing residential development projects in smart growth locations around New England. The company has two ongoing projects located in Brockton, MA, adjacent to the downtown’s