In the spring of 2024, Bill Low, the president of L&P Commercial in East Longmeadow, Massachusetts, took a call from Robert Bolduc, a friend and former client who had recently launched a new philanthropic enterprise called Hope for Youth and Families after selling his Pride Stores chain of gas and convenience stores.
Bolduc was in the market for a new location for a school his nonprofit was helping. The school, Discovery Polytech Early College High School, is one of more than 16 middle and high schools in Springfield operated by the Springfield Empowerment Zone, a partnership between Springfield Public Schools, the state and the Springfield Education Association launched in 2015 to improve student outcomes at chronically underperforming schools in the district.
Working with local community colleges and universities, the high school enables students to earn several college credits per semester. The school has proven popular with families in the area and quickly outgrew its previous location in the Chestnut Middle School building.
L&P Commercial's Low happened to know that the top two floors of the 1350 Main St. building in downtown Springfield had recently become vacant, and he thought the 32,000 square feet in the former MassLive Building at One Financial Plaza could prove an ideal solution. After showing the space to Bolduc, he agreed, and Low arranged for Bolduc's philanthropy, Hope for Youth and Families, to secure the space and make it available to the school.
After many challenges and design changes, including over $1.5 million in renovations partially funded by a state grant, the high school opened for classes in its new location at the end of August 2024.
In recognition, the deal earned a 2025 CoStar Impact Award for lease of the year in the Hartford, Connecticut, market, as judged by a panel of local industry professionals.
About the project: With a special focus on STEM-related studies, the school enables high schoolers to attend classes at area colleges and earn college credits in their junior and senior years. The location in a Class A downtown office building also gives students access to local businesses for mentoring, internships and future employment.
The alternative use of space also filled a sizable vacancy in a large downtown office building next to City Hall.
What the judges said: "This project faced the biggest obstacles and likely needed the most resources and innovation to get to the finish line," said Kerry Wood with New England Retail Properties.
"It's very challenging to get deals done with a 501 (c) (3) nonprofit organization in any environment, let alone this one," added Mark Greenberg of MGRE Co.
They made it happen: William Low, president of L&P Commercial, represented the tenant, and Jim Reardon, sales associate with NAI Plotkin, represented the landlord.
CoStar Market Manager Coleman Applegate contributed to this report.