Worcester, MA & COVID-19 Uncertainty

Why the Boston Suburb Could Stay Ahead of the Curve

Piloting Bisnow’s first-ever digital summit, Bohler Partner Matt Smith joined panelists Todd Finard, CEO at Finard Properties; Rob Robledo, Sr. VP at CBRE; Mike Eardley, Director, Energy & Sustainability at EBI Consulting; and Joshua Lee Smith, Partner at Bowditch to discuss development in Boston’s suburbs, what’s next for Worcester, and the possible effects of the COVID-19 pandemic on the area’s development community.

Moderated by Lisa Nickerson, Founder & Principal at NICKERSON, the group agreed that the City of Worcester is uniquely positioned to withstand potential market uncertainties. Here’s why:

1. 1. The City is attracting a growing biotech market

Based on proximity to cutting-edge research at Cambridge and UMass, significant players in the biotech industry want to establish a presence in the area. With local researchers working on a COVID-19 vaccine, the Boston biotech market is strong and continues to grow. Sites such as The Reactory, a redevelopment of the Worcester State Hospital that Bohler is helping to design, have established considerable infrastructure for future biomed facilities.

2. Home-grown businesses can be ready to expand more efficiently

Chock-full of unique and talented entrepreneurs, Worcester is home to some of the area’s best restaurants, bakeries, sandwich shops, tailors, and more. Savvy retail developers understand that for this town, it’s not about landing big national chains, who may undergo a more complex decision-making process during challenging times—it’s about finding the local business gems who are still doing well, and providing them an opportunity to open a second location.

3. The government is open to assisting development

Experienced in private development, many City officials work well with developers, and understand how to keep projects moving forward. At Bohler, we’ve seen that projects of varying size and complexity have obtained approvals quickly—within one or two meetings.

As we wait for the impacts of COVID-19 to play out, leading professionals in Boston’s commercial real estate industry believe in Worcester. From a growing biotech market to experienced City officials, the City is uniquely positioned to provide opportunities to realize your land development goals.

For more information, check out Bisnow’s recap of the webinar here. 

Contact our team to learn more about opportunities to accomplish your development goals in Worcester.