Banker & Tradesman: Cracking the Code for Gateway Cities Development
Banker & Tradesman | By Steve Adams, Banker & Tradesman Staff | January 25, 2026
Decades after they roomed together at Boston College, Lucian McPherson and Kevin Mapp went into business full-time to accelerate the growth of McPherson Development, a Milton-based firm that specializes in multifamily development in Massachusetts’ Gateway Cities and Boston neighborhoods alike.
In Fall River, McPherson Development is wrapping up conversion of an abandoned parish school into income-restricted condominiums, after receiving a subsidy from MassHousing’s CommonWealth Builder program. And it’s preparing to break ground on a nine-unit ground-up development on Wendover Street in Dorchester. McPherson and Mapp are members of The Builder Coalition, the Boston-based networking and professional education group that hosted a capital investors summit last fall to connect financial executives with local developers.
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