DevelopSpringfield
DevelopSpringfield is a nonprofit 501(c)(3) founded in 2008 that acquires and redevelops blighted properties in Springfield, Massachusetts, operating the Springfield Innovation Center, commercial office leases, an auditorium venue, and a corridor storefront grant program as a subsidiary of Westmass Area Development Corp.
- Company typePrivate
- Founded2008
- HeadquartersSpringfield, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What DevelopSpringfield does
DevelopSpringfield is a nonprofit 501(c)(3) economic development organization founded in 2008 and headquartered in Springfield, Massachusetts. Its core function is acquiring and preparing blighted and underused properties for redevelopment — projects that are typically financial losers for private developers — and either reselling them to businesses or repositioning them for community use, with the explicit goal of returning properties to the municipal tax rolls. The organization serves as a catalyst for public and private investment in Springfield, working in close coordination with the City of Springfield, regional development entities, and community partners.
The company's operating portfolio centers on the Springfield Innovation Center at 276 Bridge Street in downtown Springfield's Innovation District, which functions as a business incubator and houses renovated commercial office suites for lease as well as a state-of-the-art auditorium available for daily ($175), weekly ($150/day), or monthly ($3,500) licensing. DevelopSpringfield also administers the Corridor Storefront Improvement Program, which provides grants to street-level businesses on State and Main Streets for façade improvements, and has executed historic rehabilitation projects including the Merrick Phelps House (built 1841) and the Lower Maple Business Park complex. Revenue is generated through property redevelopment and disposition, recurring office leases, auditorium licensing, and grant-funded programming. Primary customer segments are the City of Springfield and municipal government, local small businesses and startups, and regional development organizations.
Since December 2023, DevelopSpringfield has operated as a subsidiary of Westmass Area Development Corp. following Westmass's takeover of management when the organization had no full-time staff and relied on consultants. Under Westmass president and CEO Jeff Daley, the organization has begun pursuing larger redevelopment opportunities, including the 17.5-acre Vibra Hospital property on State Street, while leveraging Westmass's broader regional development capabilities across industrial parks and the Ludlow Mills mixed-use project.
DevelopSpringfield firmographics
Firmographics- Name
- DevelopSpringfield
- Legal name
- DevelopSpringfield
- Website
- https://developspringfield.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- DevelopSpringfield is a nonprofit 501(c)(3) founded in 2008 that acquires and redevelops blighted properties in Springfield, Massachusetts, operating the Springfield Innovation Center, commercial office leases, an auditorium venue, and a corridor storefront grant program as a subsidiary of Westmass Area Development Corp.
- Ownership category
- akta.pro rank
DevelopSpringfield industry classification
Industry- Product category
- Economic Development and Real Estate Redevelopment Services
- NAICS
- Commercial and Institutional Building Construction (23622)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), Non-Operating Establishments (9995)
- akta.pro primary industry
- Urban Renewal, Brownfield Redevelopment & Land Reuse (BPAIANAI)
- akta.pro secondary industry
- Brownfield Redevelopment Support (Site Characterization & Reuse Planning) (EUAHAFAJ)
Keywords
Where DevelopSpringfield is headquartered
LocationHeadquarters
- HQ city
- Springfield
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
DevelopSpringfield business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Others
Revenue model
- Property Redevelopment and Sale: DevelopSpringfield acquires blighted properties, prepares them for redevelopment, and sells them to businesses, returning them to the tax rolls. This is a core function supporting Springfield's economic development.
- Commercial Office Space Rental: Leasing of renovated office suites at 276 Bridge Street in downtown Springfield. Contact property manager Jesse Allen for leasing inquiries.
- Auditorium Rental: Rental of auditorium space at Springfield Innovation Center for events including conferences, lectures, workshops, and private functions. Offers daily, weekly, and monthly licensing options.
- Grant Programs: Corridor Storefront Improvement Program provides grants to street-level businesses on State and Main Streets for façade improvements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Daily License Fee for short-term auditorium use |
| Subscription | Monthly | Weekly License Fee for five-day auditorium rental |
| Subscription | Monthly | Monthly License Fee for extended auditorium use |
| Subscription | Monthly | Office Space Rental - quote-based pricing |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
DevelopSpringfield product offering
Product offeringCore offering
DevelopSpringfield is a nonprofit 501(c)(3) economic development corporation that acquires blighted and problem properties in Springfield, Massachusetts, prepares them for redevelopment, and either sells them to businesses or holds them as leased commercial space. It operates the Springfield Innovation Center at 276 Bridge Street, which functions as a business incubator with office suites, accelerator space, and an auditorium available for daily, weekly, or monthly rental. The organization also administers the Corridor Storefront Improvement Program, distributing grants to street-level businesses for façade improvements, and rehabilitates historic properties such as the Merrick Phelps House and Lower Maple Business Park.
Product overview
DevelopSpringfield is a nonprofit economic development organization that operates as a portfolio of real estate development and community revitalization services. The core offerings include the Springfield Innovation Center (a business incubator with office space), the Springfield Innovation Center Auditorium (a venue rental facility), and the Commercial Office Space at 276 Bridge Street. Additional services include the Corridor Storefront Improvement Program (grants for business façade improvements) and various historic rehabilitation and redevelopment projects including the Lower Maple Business Park and Merrick Phelps House. The organization was formed in 2008 and became a subsidiary of Westmass Area Development Corp. in late 2023.
Differentiator
Problem solved
Functional benefit
Products and services
- Springfield Innovation Center
Quantifiable outcome
- Successfully converted River Inn from a blighted property (hotbed of drug deals and prostitution) into a Pride station
- +2 more outcomes
Companies that use DevelopSpringfield
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
DevelopSpringfield technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
DevelopSpringfield partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship, core and minor.
- Westmass Area Development Corp.flagshipWestmass Area Development Corp. took over management of DevelopSpringfield in late 2023, making it a subsidiary. Westmass owns and operates industrial parks in the region and the Ludlow Mills mixed-use development project. Jeff Daley, president and CEO of Westmass, leads the integration. The partnership is designed to boost economic growth in Springfield, bringing new vision, talented development staff, and commitment to development opportunities unique to the largest city in Western Mass.
- City of SpringfieldcoreCity of Springfield works with DevelopSpringfield on redevelopment projects. Mayor Domenic J. Sarno has been a key supporter, noting the organization tackles projects that private developers cannot pursue. The city aims to develop key properties including the 17.5-acre Vibra Hospital property.
- MassDevelopmentcoreCollaborated with Commonwealth, MassDevelopment, the City of Springfield, Valley Venture Mentors, the Innovation Hub, and MassMutual Financial Group to establish the Innovation Center on Bridge Street in downtown Springfield.
- MassMutual Financial GroupcorePartnered with DevelopSpringfield and other organizations to establish the Innovation Center on Bridge Street in downtown Springfield's Innovation District.
- Valley Venture MentorscoreCollaborated with DevelopSpringfield to establish the Innovation Center on Bridge Street, contributing to the business accelerator and mentoring space.
- Innovation HubcorePartnered with DevelopSpringfield to establish the Innovation Center on Bridge Street in downtown Springfield's Innovation District.
- Commonwealth of MassachusettsminorCollaborated with DevelopSpringfield on various redevelopment initiatives and planning projects including the FutureCity2025 Economic Development Plan.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
DevelopSpringfield competitors and assessment
Company assessmentDirect peers
- Mercy Housing: A national nonprofit that develops and operates affordable housing and mixed-use properties, often in partnership with municipal governments and through rehabilitation of distressed assets. Mercy Housing shares DevelopSpringfield's 501(c)(3) structure and mission-driven approach to urban redevelopment.
- The Community Builders: One of the largest nonprofit developers of affordable housing and mixed-use properties in the United States. Like DevelopSpringfield, The Community Builders acquires and develops challenging urban properties in partnership with municipal governments, operating as a 501(c)(3) with a mission-driven real estate development model.
- Westmass Area Development Corp. DevelopSpringfield's parent company since December 2023, Westmass is a regional development corporation that owns and operates industrial parks and the Ludlow Mills mixed-use development in Western Massachusetts. It is the most directly comparable organization, sharing nonprofit-driven property development and economic revitalization missions in the same geographic region.
- Preservation of Affordable Housing (POAH): A nonprofit developer and operator of affordable and mixed-income housing that acquires and rehabilitates challenging urban properties. POAH shares DevelopSpringfield's model of using nonprofit status to pursue projects that are financially marginal for private developers, with similar expertise in historic property rehabilitation.
Broad incumbents
- LISC (Local Initiatives Support Corporation): A national nonprofit that finances and supports local community development organizations, including those involved in urban revitalization and brownfield redevelopment. LISC operates at significantly greater scale than DevelopSpringfield and serves as a capital intermediary for similar mission-driven developers nationwide.
- Enterprise Community Partners: A national nonprofit that invests in affordable housing and community development across the U.S. Like DevelopSpringfield, Enterprise combines property development with community revitalization, though at a much larger scale and broader geographic footprint spanning multiple states.
Regional players
- Cinnaire Solutions: A nonprofit community development financial institution that provides capital and development expertise for affordable housing and community revitalization projects, with strong presence in the Midwest and Mid-Atlantic. Cinnaire shares DevelopSpringfield's nonprofit-driven real estate development model and serves comparable community development purposes.
- MassDevelopment: Massachusetts' quasi-public development finance agency and a direct partner of DevelopSpringfield. MassDevelopment provides financing, real estate services, and development expertise across the Commonwealth, sharing the same brownfield remediation and economic development mission but operating at a broader state-wide scale rather than a single city.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
DevelopSpringfield social profiles
Digital presenceDevelopSpringfield compliance and trust
Trust signalCompliance1 record
DevelopSpringfield financial estimates
Financial estimateRevenue estimate
Valuation estimate
DevelopSpringfield leadership team
Management profileNumber of profiles
Profiles3 records
DevelopSpringfield funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DevelopSpringfield M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DevelopSpringfield
What does DevelopSpringfield do?
DevelopSpringfield is a nonprofit 501(c)(3) economic development corporation that acquires blighted and problem properties in Springfield, Massachusetts, prepares them for redevelopment, and either sells them to businesses or holds them as leased commercial space. It operates the Springfield Innovation Center at 276 Bridge Street, which functions as a business incubator with office suites, accelerator space, and an auditorium available for daily, weekly, or monthly rental. The organization also administers the Corridor Storefront Improvement Program, distributing grants to street-level businesses for façade improvements, and rehabilitates historic properties such as the Merrick Phelps House and Lower Maple Business Park.
Is DevelopSpringfield a public or private company?
DevelopSpringfield is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was DevelopSpringfield founded?
DevelopSpringfield was founded in 2008. It employs 1 to 10 people.
Where is DevelopSpringfield based?
DevelopSpringfield is headquartered in Springfield, United States, in the North America region.
How does DevelopSpringfield make money?
Four revenue lines are on record. Property Redevelopment and Sale is the primary driver. The others are commercial Office Space Rental, auditorium Rental and grant Programs.
Who are DevelopSpringfield's main competitors?
Direct peers on record are Mercy Housing, The Community Builders, Westmass Area Development Corp. and Preservation of Affordable Housing (POAH). Broad incumbents are LISC (Local Initiatives Support Corporation) and Enterprise Community Partners. Regional players are Cinnaire Solutions and MassDevelopment.
Does DevelopSpringfield have an API?
No public API is recorded for DevelopSpringfield.
What industry is DevelopSpringfield in?
DevelopSpringfield's product category is Economic Development and Real Estate Redevelopment Services. Its primary akta.pro industry code is BPAIANAI, Urban Renewal, Brownfield Redevelopment & Land Reuse, with a secondary code of EUAHAFAJ, Brownfield Redevelopment Support (Site Characterization & Reuse Planning). Its NAICS code is 23622 and its SIC code is 6552.