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CRA approves up to $250,000 adaptive-reuse grant for Looking Good Properties at 312 Mary Avenue
Summary
The CRA approved an Adaptive Reuse Opportunity Grant not to exceed $250,000 for Looking Good Properties LLC to support a new ~4,000 sq. ft. flex-space building at 312 Mary Avenue; the project is estimated at $515,300 and will be subject to a perpetual covenant restricting automotive uses.
The Community Redevelopment Agency voted April 22 to approve an Adaptive Reuse Opportunity Grant for Looking Good Properties LLC for a redevelopment at 312 Mary Avenue, authorizing a grant not to exceed $250,000.
CRA Director Samantha Bergeron described the Adaptive Reuse Opportunity Grant as a 50/50 matching, reimbursement program meant to encourage value-added changes of use in underutilized commercial and industrial properties within the CRA district. She said the applicant had purchased 312 Mary Avenue, demolished the former used-car sales lot and proposed a roughly 4,000-square-foot building divided into four flex spaces. Bergeron said the applicant’s total projected investment is $515,300 and that "we are looking for this evening is a motion to approve the grant not to exceed $250,000."
Commissioner McGurk praised the proposal, saying, "This is what CRA is all about," and other commissioners said the project will improve neighborhood values. Bergeron confirmed the grant agreement will include a perpetual restrictive covenant barring the property from reverting to certain automotive-related sales uses (used car sales, boat sales, automotive uses).
A motion to approve the Adaptive Reuse Opportunity Grant was moved and seconded, the clerk called the roll, and the board voted to approve the grant. The recorded yes votes were: Member Perrine; Member McGurk; Vice Chair Martin; Chair Cleveland. The applicant was present and had displayed conceptual boards at the meeting; staff described the development as offering incubator-friendly, smaller commercial spaces.
The grant is subject to standard CRA program requirements (50/50 matching, reimbursement) and the restrictive covenant limiting automotive-type sales in perpetuity. Further administrative conditions or contract details were not specified on the public record.
