EDIC approves partnership with NHP Foundation and Sydney Capital for former State School housing
Belchertown EDIC approves partnership to develop former State School property into 105-unit affordable housing. The board voted unanimously to authorize MassDevelopment to draft a purchase and sale agreement with the NHP Foundation and Sydney Capital Group, replacing the previously approved Brisa
Economic Development and Industrial Corporation · Meeting of February 4, 2026
Belchertown EDIC approves partnership to develop former State School property into 105-unit affordable housing. The board voted unanimously to authorize MassDevelopment to draft a purchase and sale agreement with the NHP Foundation and Sydney Capital Group, replacing the previously approved Brisa Development team. The $60 million project will include mixed-income units ranging from 30 to 80 percent of area median income, with construction estimated to complete in 2029 pending state and federal funding awards.
Board members expressed confidence in NHP Foundation's capacity but flagged uncertainty over Sydney Capital's ownership stake in the joint venture, which remains under negotiation.
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Source: the Economic Development and Industrial Corporation meeting of February 4, 2026, compiled from the official minutes.
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