Northland Charlemont 40B Fiscal & Economic Impact AnalysisNewton, MA

Landwise assisted developer Northland with an analysis of the economic and fiscal impacts of their planned mixed-use Charlemont 40B development. The proposal includes approximately 580,000 square feet of commercial and residential uses (410-units) on 7-acres. The analysis quantified the impacts that the development would have on the City of Newton and the State of Massachusetts.

The fiscal impact report analyzed potential revenue streams from the proposed residential and commercial development together with fiscal impacts to individual departments. This analysis was customized by Landwise and required consultation with City departments. A comparison of total revenues ($3.5M) to total expenses ($2.8M) illustrated the project would have a net-positive impact.

The economic impact report estimated the short-term (construction phase) and long-term (recurring) economic benefits using IMPLAN, a nationally recognized model for determining economic impacts as a result of capital investment and related job creation. The one-time impacts include $363M of direct impact and $3.77M of spin-off impacts in the City of Newton. The on-going annual impacts include $9.6M of direct impact and $64,000 of spin-off benefits in the City.