Novogradac Article: HTCs Help Compose New Song for Former Taylor and Farley Organ Factory in Worcester, Massachusetts

Nick Decicco, Senior Writer, Novogradac

A former organ factor in Worcester, Massachusetts, with history reaching back to the mid-19th century is set for a future as 36 apartments thanks to a combination of state and federal historic tax credits (HTCs).

The site was built in 1865, when John A. Farley and Simeon Taylor joined forces to create the Taylor and Farley Organ Factory, according to the National Register of Historic Places.

A developer and housing manager with strong local ties is behind the redevelopment. Worcester-based GoVenture Capital is leading the redevelopment efforts on the Taylor and Farley Organ Factory. It Follows other GoVenture housing endeavors in Worchester, including the 111-apartment the Kiln and an in-progress, 364-apartment site named The Benjamin.

The redevelopment Taylor and Farley site will include 31 market-rate apartments and five affordable apartments. GoVenutre expects to complete construction in January 2026…

“We’re proud to be part of a project that not only preserves a piece of Worchester’s rich history but also addresses the city’s housing needs in a meaningful way.”

–Rick Chukas, Partner, Managing Director HTC at Monarch Private Capital

Read The entire article in the January 2025 issue of the Novogradac Journal of Tax Credits