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Developers ask Trust Fund for $400,000 to replace and expand Colony on Grove’s Beach building
Summary
Affirmative Investments and Colony Retirement Homes requested $400,000 from the Worcester Affordable Housing Trust Fund to demolish 36 aging units and build 48 units (12 net new) as part of a multi‑phase redevelopment, citing relocation plans, passive‑house certification and 2026 financing milestones.
Affirmative Investments and Colony Retirement Homes asked the Worcester Affordable Housing Trust Fund on Sept. 30 for a $400,000 grant toward the second phase of the Colony on Grove redevelopment, a request the developer said represents about 1.12% of the project’s cost.
“ We are requesting $400,000 from the trust, which makes up about 1.12% of our total development costs,” said Craig Nicholson, development consultant for Affirmative Investments. The applicants said the combined $650,000 in city requests (including other city home funds) would leverage about $35.1 million in private and public financing for the overall redevelopment.
The proposal…
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