State approves $1 million in historic tax credits for two Brockton projects

In a first for the city, two developers received state Historic Rehabilitation Tax Credits for proposed redevelopment projects in downtown Brockton, worth a total of $1 million.

Cambridge-based Capstone Communities LLC and Brockton-based Brophy & Phillips Co. have each received $500,000 in state tax credits to help finance their respective developments.

The two projects represented the first applications, and first successful applications, the city has ever had for these particular tax credits.

Capstone is looking to turn the former home of the Stall and Dean sporting goods company at 124 Montello St. into a 25-unit apartment building housing a mixture of full-priced rents and subsidized housing for working families and artists.

Brophy & Phillips  is  looking to turn the four-story, 350,000-square-foot former mill building at 88 Lincoln St., across the street from the post office, into commercial office space.

No other project in the state received more than $500,000 in the current round of funding, and most received less.

Read more: http://www.enterprisenews.com/archive/x1510865685/State-approves-1-million-in-historic-tax-credits-for-two-Brockton-projects#ixzz1UdA5Hq00

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