This property represents one of the largest and most affordable redevelopment projects on the East Coast. Spanning approximately 17 acres with over 1.2 million square feet of industrial mill space, it offers an unparalleled value proposition for investors. Opportunities of this magnitude at such a competitive entry cost are exceedingly rare – this is a once-in-a-generation chance to acquire and transform a site of this scale. Prime Transit-Oriented Location Strategically positioned just a 4-minute drive from the new MBTA Church Street Commuter Rail station, the site sits squarely in a transit-rich location. It lies within the Kings Highway Transit-Oriented Development (KH-TOD) Overlay District, a zoning overlay created to encourage the conversion of industrial areas into dynamic mixed-use communities. This means investors can leverage flexible zoning that supports residential, retail, and commercial development, capitalizing on future foot traffic and transit connectivity. With Boston soon accessible in under an hour by rail, the location is poised to attract commuters and businesses alike, driving up demand for housing, offices, and retail in the area. Historic Structures, Modern Potential Originally built as a yarn mill, the existing structures are a testament to solid early-20th-century construction. Large-diameter concrete and rebar columns support the buildings, tapering on upper floors – a design built to last and adapt. Each floor offers approximately 8–9 feet of clear height, suitable for a variety of redevelopment visions (lofts, offices, light industrial, or self-storage). As a designated historic building, this property opens the door to substantial financial incentives: federal historic tax credits (potentially 20% of qualified renovation costs), state and local historic grants, and financing support from agencies like MassHousing. These incentives can significantly offset redevelopment costs, boosting your project’s return on investment. In short, you’re not just buying a property – you’re inheriting a piece of New England’s industrial heritage with the tools to reimagine it for the 21st century. City on the Rise New Bedford is a city in the midst of a remarkable renaissance. National publications (including The New York Times) have spotlighted New Bedford as one of the nation’s hottest housing markets, praising its coastal charm, affordability, and growth potential. The city’s commitment to revitalization is evident in new businesses, emerging arts and cultural scenes, and significant public-private investments. The upcoming expansion of commuter rail service cements New Bedford’s status as an extension of the Greater Boston economic region, with Boston reachable in under an hour. This enhanced connectivity is expected to further stimulate demand for housing and commercial space, driving property values upward. Investors in this project will be tapping into a wave of positive momentum and city-backed growth initiatives, ensuring a supportive environment for large-scale redevelopment. Transformative Development Potential With its vast scale, prime location, and rich history, the King Street property is primed for transformation into a landmark mixed-use development. Envision creating an innovative live-work-play campus that could include loft-style apartments, artist studios, offices, retail shops, dining, and green community spaces. The KH-TOD overlay encourages such creative reuse, meaning your development can shape a new destination neighborhood around transit access and urban vitality. Whether you pursue a phased development or a single sweeping project, the site’s flexibility can accommodate a range of investment strategies—from residential loft conversions and affordable housing (leveraging MassHousing funds) to tech/incubator space or light manufacturing. The sheer size of the property allows for ample parking, landscaping, and even new construction alongside the historic mill structures. Ready for Action Practical considerations have been addressed to jump-start redevelopment. An existing 21E environmental report is available, giving insight into site conditions and saving you time in due diligence. The property’s inclusion in special funding and tax credit programs means financial frameworks are in place to assist with pre-development and construction. City officials have shown support for thoughtful redevelopment in this corridor, aligning with New Bedford’s master plan for smart growth and improved transit usage. Key Highlights • Massive Scale & Value: 17 acres with 1.2M+ SF of space – an unbeatable price-per-square-foot opportunity. • Transit-Oriented Development: Minutes from commuter rail; within a pro-development TOD overlay zoning. • Historic Tax Credits: Eligible for federal historic credits and other incentives to substantially reduce redevelopment costs. • Strategic Location: In a city praised nationally for growth; future rail link to Boston boosts long-term value. • Flexible Redevelopment Options: Ideal for mixed-use community, tech campus, residential conversion, or industrial reuse. • Due Diligence in Hand: 21E environmental report ready, indicating the site is primed for planning and permitting.