The city [of Springfield] announced Tuesday that it will buy three office buildings near MGM Springfield to spur redevelopment, using federal COVID-19 relief funds received under the American Rescue Plan.
The three buildings are at 113-115 State St., 1139-1155 Main St. and 11-21 Stockbridge St. They are being purchased from Freedom Credit Union for $2.75 million, according to a news release from the office of Mayor Domenic J. Sarno.
The property will be purchased through the city and Springfield Redevelopment Authority using the federal funds designated for economic development.
“This investment will greatly benefit my administration’s vision of enhancing our downtown district and ensures that that these key properties will not be underutilized or underdeveloped by questionable investors…” Sarno said in a statement.