NEW FUNDING OPPORTUNITY: TDI Equity Investment Program

Jan 28, 2023 | Press, Small Business, Viva Downtown

MassDevelopment’s Transformative Development Initiative (TDI) is pleased to announce the upcoming release of a new notice of funding availability (NOFA) for the TDI Equity Investment program. This program will provide grants for capital improvements generally between $25,000 and $250,000 for projects that activate commercial and retail spaces in and around TDI Districts. Awards may be greater for exceptional projects, up to $500,000.

The online portal is in the process of being updated but you can attend one of two general information webinars. All interested applicants are encouraged to attend. You can sign up here:

Who should apply?

We welcome submissions from a broad range of applicants and have created a two-part process to encourage project concepts in all stages of development. While we will only be inviting projects that can begin with 12 months of an award to submit full applications, it is our goal to support strong concept proposals with other resources and referrals to prepare them for potential future funding rounds.

You must be located in the area indicated on the map in order to be eligible. 

Here are some examples of potential applicants: 

  • Property owners with underused or vacant commercial space
  • Developers of projects with planned or newly developed unleased commercial space
  • Community development corporations, action councils, and non-profit developers
  • Arts organizations and artists looking to own, lease, occupy, or activate commercial space
  • Small Businesses, entrepreneurs and start-ups looking to start or expand their businesses
  • Restaurants, cafes and other food and beverage providers
  • Retail incubators and small business support organizations
  • Daycare and/or afterschool program providers
  • Youth-led and youth support organizations
  • Educational institutions looking to expand programs or otherwise activate commercial spaces
  • Operators of collaborative workspaces such as co-work, makerspaces and shared commercial kitchens
  • Business Improvement Districts, Main Streets Organizations, and other district management organizations
  • Banks, CDFIs, and other financial institutions looking to expand access to financial services
  • Municipalities looking to establish satellite offices for public safety, civic functions or small business and cultural uses
  • Live music venues, active theater groups and performance spaces

TDI Equity may only be used for capital costs (fixed, one-time expenses for the purchase, construction or renovation of real property). However, if applicants have additional operating and fit-out expenses, such as staff, rent, utilities, furniture, fixtures and equipment, we encourage the submission of a project concept proposal as there may be other available resources we can identify, whether through TDI or other state, local, or partner sources.

Some uses, such as liquor stores, firearms dealers, cannabis-related businesses, adult entertainment businesses, gambling outlets, and others are ineligible.

Key Dates


Please sign up to attend the program orientation webinars. You can also contact Jim McKeag at with specific inquiries. Due to the expected volume of inquiries, we ask for your patience and may choose to respond via a general notice or list of frequently asked questions (FAQ).