The Fall River Tax Increment Financing Board last week unanimously approved tax-increment exemption agreements for three residential redevelopment projects that are seeking Housing Development Incentive Program and historic tax credits.
One of the three is the Thomas Alva Edison Building project at 138 Hartwell Street, the former Frank Silvia School site. The proposal calls for a $21 million investment to build 49 rental units. Downtown Lofts, a division of Cordeiro Properties, is developing the project as Jenna’s Corner Lofts, with 29 one-bedroom and 20 two-bedroom market-rate apartments. The Zoning Board of Appeals granted a special permit in March, and the site was condemned after a fire in March 2025. The new building will be constructed from the ground up, with 49 on-site parking spaces and additional spaces at a neighboring property at 60 Hartwell Street.
Charlton Mill Lofts LLC, 109 Howe Street on Cook Pond is a $65 million rehabilitation of a vacant historic mill into 147 market-rate rental units and build another building with 68 units. The Zoning Board of Appeals approved a special permit for the conversion earlier this year. The market rate units at the mill building would consist of 55 studios, 74 one bedroom, and 18 two bedrooms. The new building would hold 52 one bedroom, 8 two bedrooms, and 8 three-bedroom units. The mill, built in 1911 and listed on the National Register of Historic Places, is the last granite mill constructed in Fall River.
Cornell Lofts LLC, 650 Plymouth Avenue is a $4 million retrofit of the former Connell School into 16 market-rate studio units.
All three agreements are set for 80% for the first five years and 20% for the next five years.
