Successful developments should benefit their neighborhoods, their residents and their owners, on the day they open and long-term. As experienced practitioners, VIVA can help with any stage of your project. From program design, siting, financing, permitting, community process, or managing a construction team, we have the know-how to get the job done.
Financing Expertise for a Transformative Project: Union Crossing
Lawrence CommunityWorks had an ambitious plan to transform a long-neglected Mill District into a vibrant, mixed-used neighborhood. The nonprofit purchased the historic Southwick and Duck Mills, adjacent campuses that offered 360,000 square feet of space for adaptive reuse. But while the staff of Lawrence CommunityWorks had extensive skill in community planning and real estate development, they needed help figuring out how to finance the multi-phase, $65 million project. VIVA Consulting has worked with Lawrence CommunityWorks since 2007, through the financial crash and the subsequent explosion in construction costs, to structure financing for three successive phases of development at Union Crossing. The first phases – public infrastructure development, 61 affordable units, and 32,500 square feet of commercial space – are now operating successfully, breathing new vitality into the heart of Massachusetts’ poorest city. The final phase, 73 units of affordable housing and 10,000 square feet of commercial space, will start construction early in 2015.