A prominent city developer has won $2.5 million in state tax credits to help build more housing in downtown Fall River.
The Cordeiro Group, led by Anthony Cordeiro, was one of six developers statewide to receive funding from the Housing Development Incentive Program. The program is a state initiative to spur the building of market-rate housing in Gateway Cities.
The funding for Cordeiro Group will go toward building Bedford Lofts, a 52-unit five-story building on Bedford Street that will also contain commercial space and an adult day care center.
“HDIP is the medium that makes market-rate housing happen in Gateway Cities like Fall River,” said Melanie C. Cordeiro, vice president and chief marketing officer for the Cordeiro Group.
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