Lieutenant Governor Kim Driscoll and Housing and Livable Communities (HLC) Secretary Ed Augustus today announced $15 million in Housing Development Incentive Program (HDIP) awards to projects that will create 369 new homes across Massachusetts. One of the awards went to Lowell and Novus Properties, which secured $2.4-million to create 27 units in a Downtown Lowell property known as the “Turbine Building.”

In total, six projects located in five Gateway Cities received funding, with Lowell being joined by Fall River, Hyannis, New Bedford and two projects in Brockton.

The Turbine Building is located inside the historic mill complex at 246.1 Market Street. Plans call for one or two bedroom market rate units to be built.

“HDIP is delivering real results for families and communities across the state. Through this program alone, our administration has supported projects that will produce nearly 3,000 new homes for residents living in our Gateway Cities,” said Governor Healey. “By increasing the funding for this program, we’re creating more housing to lower costs, revitalizing downtowns, and strengthening local economies.”

HDIP is an effective and valuable tool for the state’s Gateway Cities to produce more market-rate housing to support economic development, expand the diversity of the housing stock and create more vibrant neighborhoods. As part of the $1 billion tax cut package signed by Governor Maura Healey in 2023, the annual HDIP program cap was raised from $10 million to $30 million a year with a one-time infusion of $57 million.

“Housing remains a top priority for our administration, and we’re working hard to build more homes across more communities at a faster pace,” said Lieutenant Governor Driscoll. “These awards continue to have a big impact in their communities while helping us lower costs across the state.”

“This administration continues to take advantage of every available tool to unlock housing production and address the shortage we’re facing here in Massachusetts. HDIP is crucial to our success in making that a reality,” said Secretary Augustus. “In addition to creating new housing across the state, these awards are part of reinvigorating our Gateway Cities, which is essential in keeping Massachusetts competitive, vibrant, and a place where people can afford to build their lives.”