2022 Power 50: Denis Dowdle
Photo | Courtesy of Madison Properties
Denis Dowdle, president of Madison Properties, in Boston
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Although Denis Dowdle’s developments in Worcester are still more on paper than in steel, his proposed six-building project across from the Polar Park baseball stadium remains one of the most influential developments in the city.
Madison Properties’ ambitious plan promises to have a transformative effect on the Canal District – once complete. It includes hotel, residential, and commercial buildings, all of which were pitched before the coronavirus pandemic and have since undergone downsizing and extensive delays. The hotel, for example, dropped from 262 rooms opening in 2022 to 125 rooms opening in 2025. Still, the project carries immense sway in Worcester; it is located within the ballpark tax district, meaning its property taxes will go toward paying off the $160-million public stadium.
Dowdle’s wavering promises, if anything, have proven his power over the city, which is now dependent on his success to pay off its massive investment in Polar Park. Additionally, while his projects have been delayed and downsized, two other major development projects from different firms have spawned in the tax district, which should help make up for the Madison losses: a seven-story residential building at the former Cove Music Hall and a 400-unit, six-phase development at the former Table Talk Pies headquarters.
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Lots of moving parts based on lots of assumptions in uncertain times...We shall see.
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