W
orcester's Union Station area is set to see a major residential development after The Michaels Organization, in partnership with GoVenture Capital Group, purchased 12 parcels of land for $16.55 million.

    The acquisition, finalized in early April, includes properties on Franklin Street and surrounding areas, totaling 3.23 acres. The site currently features industrial structures and vacant lots that will be demolished to make way for a five-story apartment building with 364 units.

    The project's proximity to Union Station, just under a quarter-mile away, puts it within walking distance of downtown amenities and public transit. A key financial incentive has already been secured: a 15-year tax break worth $11.3 million approved by the City of Worcester in March 2024.

    The parcels had a collective tax assessment value of $5.52 million in 2025, significantly lower than the purchase price. This highlights the scale and ambition of the proposed redevelopment. With the land acquisition complete, the partnership is one step closer to breaking ground on what could become one of Worcester's largest housing projects in recent years.