News: Front Section

Westmass Area Development Corp. takes leadership role at Develop Springfield

Springfield, MA Westmass Area Development Corp., a renowned non-profit organization in real estate and economic development, is set to take on the leadership role at Develop Springfield. This announcement, made at the Springfield Innovation Center on December 27th, marks a significant step in the ongoing efforts to revitalize and transform the city.

Founded in 1960, Westmass has been instrumental in developing and managing various significant real estate and economic development projects across Western Massachusetts. Their innovative approach and dedicated team have played a crucial role in community enhancement, creating jobs, and promoting housing and economic opportunities. 

Jeff Daley, president & CEO of Westmass Area Development Corp. and the incoming president & CEO of Develop Springfield, expressed his enthusiasm about the new role. “I am excited to begin the projects that Develop Springfield currently has and projects we will take on in the coming years. While continuing to lead and develop projects with Westmass, I know we have the perfect team in place to transition that same work over to Develop Springfield. Springfield has a lot of opportunities for growth and success, and I am looking forward to leading Develop Springfield to be a catalyst developer for those successes!”

AJ Crane, chairman of the board of directors at Westmass, highlighted the organization’s commitment to Springfield’s development. “With Westmass taking on the mission and operations of Develop Springfield, we are excited to assist the community of Springfield with some of its more challenging real estate development projects. Westmass has been implementing successful real estate development projects across Western Mass for over 60 years and we now look forward to bringing that expertise to Develop Springfield.”

Daley said, “Our vision at Westmass is not just about building structures, but about building communities. As we step into this role with Develop Springfield, our focus will be on creating sustainable and vibrant properties that reflect the history and spirit of Springfield. We are dedicated to making a positive difference in the city, and committed to ensuring that our projects leave a lasting and beneficial legacy for the residents and businesses of Springfield.”

This strategic partnership between Westmass and Develop Springfield is set to drive significant advancements in the city’s economic development and urban revitalization efforts.

Westmass, a leader in economic and real estate development, has been transforming Western Massachusetts through its innovative projects for over 60 years. With a focus on enhancing communities and creating opportunities, Westmass continues to be a key player in the region’s development landscape.

Established in 2008, Develop Springfield focuses on advancing development projects in the city. With a commitment to revitalizing and repurposing challenging properties, the organization plays a crucial role in the city’s economic growth.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary