Worcester Business Journal

Higher ed diversity 6 WPI's new chief diversity officer seeks to incorporate more voices into the conversation. WBJ >> To Subscribe Central Massachusetts' Source for Business News August 15, 2016 Volume 27 Number 17 www.wbjournal.com $2.00 Central Massachusetts schools are increas- ing their nursing offerings to meet shifts in the healthcare industry. Focus on Higher Education 12 As Worcester adds luxury its housing stock, officials strive to keep the city's affordable destination reputation New offshore wind requirement leads to price worries $ 1,542 per month vs. $2,580 per month. A strong allure of Worcester is its affordability com- pared to the big city in the east, as illustrated by the median home rental price in Worcester vs. Boston. Q&A with Lisa Colombo, president and CEO of Clinton Hospital Shop Talk 8 N ew renewable power require- ments in Massachusetts' com- prehensive energy law could lead to rate hikes, according to business and industry officials. "It really does have the potential to define the way we buy power and how we provide that power for the next generation, really," said Chris Geehern, executive vice president of marketing and communications at As- sociated Industries of Massachusetts, a business advocacy group. "It's very important for employers as ratepay- ers, and for individual homeowners who struggle with high costs as well." The bill, finalized on the last day of the legislature's formal session and signed into law by Gov. Charlie Baker last week, requires utilities to enter into 15-20 year contracts with power provid- BY LAURA FINALDI Worcester Business Journal Staff Writer BY SAM BONACCI Worcester Business Journal Digital Editor The new energy law calls for utility companies to bring 1,600 megawatts of offshore wind power and 1,200 of other clean energy, including hydropower, to Massachusetts. Yet, as Worcester seeks to revitalize its downtown, high-priced luxury is playing a bigger role, especially with housing and how that permeates to demand for high- end amenities. The trick city officials and developers are trying to pull off is adding that luxury layer while still offer- ing a diverse housing mix and avoiding the pitfalls Boston is now facing, which has put the Massachusetts' capital city on the verge of an affordable housing crisis. "Worcester has a good mix. I think for a while we were a little more top heavy with affordable housing. So I think we are working our way to a good mix between market rate and affordable," said Michael Traynor, Worcester' chief development officer. Despite Worcester's solid mix, the affordability issue has become such a hot-button one that MassHousing this year set aside $100 million to help fund new workforce housing across the state. The goal is to make sure there is enough housing for the workforce that will be the backbone of the state in the next 15 >> Continued on Page 10 >> Continued on Page 10 The apartments at the 145 Front Street at City Square development will add a layer of luxury -- such as a view of Union Station from its sundeck -- to the city 's affordable and market-rate housing stock. P H O T O / N A T H A N F I S K E Avoiding Boston's housing pitfalls P H O T O / C O U R T E S Y

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