M&S Development was formed in 2014 to assist clients developing projects with social and economic benefits in economically distressed communities. As professionals in the related fields of law, engineering, architecture, and planning, the M&S team brings unique perspectives, as well as experience with complex and multifaceted projects. The firm specializes in walkable downtowns and projects that are eligible for New Markets Tax Credits.
Empowering Community Revitalization
Revitalizing prominent downtown buildings provides an influx of energy and activity, raises property values, and reverses cycles of decline into those of increasing prosperity and energy. Enabling major local job providers to expand their facilities can also play a critical role in preserving the economic vibrancy of a community.
However, all too often when developing projects in economically challenged communities, the cost far exceeds the amount of borrowed funds available for the project. Local rents will not support a “typical” return on equity for these risks. When redevelopment is not economically viable by conventional methods, something is needed to bridge the gap.
How do you approach projects that don’t pencil out?
There is a model of community-enabled development that combines community investment with a mix of federal tax credits and state support that has been successful in revitalizing downtowns. The funding is a complex, multi-layered combination of historic and New Markets Tax Credits, state support, public loans, and private investment: civic-minded investment for the community’s benefit.
By integrating several types of services and expertise, M&S Development is able to strategically navigate this highly complicated process. They excel at managing risk by negotiating the many moving parts throughout the life cycle of a project.
Meet Our Team
Craig Miskovich, Esq., Principal firstname.lastname@example.org
Founding Member of the Brooks House Development Group, Director and Practicing Attorney at Downs Rachlin Martin PLLC (DRM)
Graduate of Harvard College and University of Connecticut School of Law
Experience: regional, national and international relationships, complex and multifaceted development projects, venture capitalists, technology businesses, and Fortune 100 companies
Areas of Expertise: New Markets Tax Credit financing marketplace
Craig has closed numerous NMTC deals ranging from Greek yogurt facilities in Arizona to paper manufacturing plants in the Northeast Kingdom.
Bob Stevens, PE, Principal, LEED AP, CNU email@example.com
Founder and President of Stevens & Associates, PC: architecture, landscape architecture, civil and structural engineering firm located in Brattleboro, Vermont.
Experience: professional engineer, 25+ years of experience leading teams in design, planning, urban design, public bond campaigns, project finance & development.
Areas of expertise: sustainable design, traditional design, historic preservation
Bob’s work and community support has been recognized with numerous awards.
Skye Morse, Principal and Investment Director firstname.lastname@example.org
Skye has 13+ years of experience in finance and renewable energy. He has been instrumental in winning over 100 MW in competitive power purchase contracts, and had a hand in over 800 MW of renewable energy project finance, development, construction, and operations. Skye lives in Guilford, Vermont and serves on the Board of Directors of the Brattleboro Food Coop.
Areas of Expertise: Project Development, Renewable Energy, Finance, Compliance Management
Education: BA in Economics – Brandeis University
MA in International Finance – Brandeis International Business School
Bob Crego, Project Manager email@example.com
During his 25 year career in the community development field, Bob has obtained over $30 million in federal, state and private foundation grant funding and tax credit equity investment to help create over 700 units of multi-family and senior housing.
Experience: organizational development, project development, financial management, grant writing and business planning
Areas of expertise: health care, education, and restaurant development
Bob was the founding director of Valley Cares, Inc. in Townshend, Vermont and the developer of the organization’s signature project, West River Valley Senior Housing, which in 2008 was awarded the Nation’s Best New Senior Housing Project by the National Low-Income Housing Tax Credit Coalition.
Martha Ratcliffe, Project Manager firstname.lastname@example.org
Martha has over a decade of project management experience. Before joining M&S Development, she contributed to several downtown Brattleboro, Vermont projects.
Experience: project management, multi-family housing, grants management, small commercial and light industrial projects
Area of expertise: relationship development with design professionals, funders, and State and local agencies
Gabrielle Ciuffreda, Project Coordinator email@example.com
Gabrielle received her A.B. in Mathematics and Biology from Bryn Mawr College and a J.D. from the University of Pennsylvania Law School. She has worked for a national firm based in New York City, as well as local non-profit organizations.
Experience: project management & permitting, budgetary controls, contracts & corporate documents, grant management, and legal relationships
Areas of expertise: real estate & environmental compliance, finance, civil and patent litigation
She currently lives in Guilford, Vermont where she is a member of the Select Board.
Location: Downtown Brattleboro, VT
Cost: $23.6 million
Size: 80,000 SF
Status: Completed 2014
GS Precision Expansion
Location: Brattleboro, VT
Cost: $17.4 million
Size: 122,000 SF
Type: Manufacturing facility
Status: Completed 2017
Athol Memorial Hospital
Location: Athol, MA
Cost: $19.3 million
Size: 112,000 SF
Type: Hospital Expansion
Status: In construction
Chroma Technology Expansion
Location: Bellows Falls, VT
Cost: $21.4 million
Size: 72,000 SF
Type: Manufacturing facility
Status: In construction
Location: Bennington, VT
Cost: $60 million
Size: 205,000 SF
M&S Development sponsors and presensts at numerous events throughout the year. Join us and learn more about how M&S provides services to assist clients with development projects to strengthen and empower communities.
CNU New England Meet Up – Western New England, Springfield, MA – July TBD
Western MA Developers Conference, Springfield, MA – June 12
CohnReznick – New Markets Tax Credit Summit 2018, Miami, FL – May 14-16
LOCUS National Leadership Summit: Rebuild America’s Neighborhoods, Washington D.C. – April 22-24
CNU New England Meet Up – Western New England, Springfield, MA – April 10th
Southern Vermont Housing Summit – Shaftsbury, VT – February 9
CNU New England Meet Up – Western New England, Springfield, MA – October
Municipal Day, Montpelier, VT – September
LOCUS: Responsible Real Estate Developers & Investors Webinar Series – August
Smart Growth Summit, Burlington, VT – June
CNU New England Meet Up – Western New England, Springfield, MA – June
Putnam Block – Open House, Bennington, VT – May
National Main Street NOW Conference, Pittsburg, PA — May
LOCUS National Summit, Washington DC — April
CNU New England Annual Summit, District Hall, Boston, MA — March
Vermont League of Cities & Towns, Economic Development Conference, Montpelier, VT — March
Vermont Regional Development Corporation, Montpelier, VT — December
Vermont Development Conference, Burlington, VT — November
UVM, Faculty and Graduate Students, Historic Preservation Program, Brattleboro, VT — November
Vermont Community Development Association, Castleton University, Castleton, VT — October
DevelopSpringfield, Springfield, MA — September
To learn more about how M&S can help your community or business, please call 802-246-2100.