WORCESTER, MA — Principal Michael Jacobs is featured in Worcester Business Journal’s news article: “Enforcing the win-win: Worcester’s assertive moves are less likely to scare developers than macroeconomic forces” with comments on Worcester’s recent assertive moves to ensure fairness in its dealings with developers. These moves include the decertification of Unum’s tax break, the adoption of inclusionary zoning policies, and the call for increased enforcement of local and diverse workforce goals. Jacobs believes that the City of Worcester has maintained a pro-development stance in recent years, and he credits skilled and dedicated city employees for facilitating this approach. He also suggests that the recent decertification of Unum’s tax break is unlikely to deter incoming developers from viewing Worcester as developer-friendly.
Jacobs acknowledges that inclusionary zoning policies may impact market-rate developers’ decisions, as they may perceive affordable units as potentially affecting their profits. However, he notes that affordable housing developers typically receive public assistance, which offsets their costs. Additionally, he highlights the flexibility of Worcester’s inclusionary zoning policy and its potential for adaptation based on changing market conditions. Jacobs mentions the City’s efforts to promote workforce diversity by setting goals for developers to hire Worcester residents, people of color, women, and subcontractors located within 30 miles of the city, particularly for projects receiving tax-increment financing or tax-increment exemption.
About NAI Glickman Kovago & Jacobs
NAI Glickman Kovago & Jacobs is a leading, full-service commercial real estate brokerage and tenant representation company based in Worcester, MA. Our specialized office focuses on office, industrial, retail, investment, commercial, land and multi-family properties. To learn more, visit www.glickmankovago.com
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member
firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs.
To learn more, visit www.naiglobal.com.