Lyman Terrace

In the Fall of 2012, MassDevelopment and the Massachusetts Housing Partnership (MHP) were asked by the City of Holyoke and Holyoke Housing Authority to work with them to explore options for the transformation of the Lyman Terrace housing development and its surrounding area. With the help of planning and affordable housing financing experts, MassDevelopment and MHP undertook a study to determine the best alternative for improving housing options for Lyman Terrace residents and other Holyoke residents; identify ways to strengthen the High Street retail corridor; identify public realm improvements to increase residents’ safety and enjoyment of the neighborhood; and create better connections to transit, open space, and the other amenities of downtown Holyoke.

The goal of the study is to provide a road map for the City and State as to how they can influence reinvestment in the neighborhood through a combination of infrastructure improvements and a development financing package to redevelop Lyman Terrace, and to provide a plan to guide the redevelopment of Lyman Terrace in a manner that accommodates the needs of current and future residents while also providing a great neighbor for all of downtown Holyoke.