The ELWOOD ADAMS building is recognized as the oldest continuously operating hardware store in America since 1782. The present structure built in 1831 & 1869 (respectively), is known as the first brick building built in Worcester, and was named to the National Register of Historic Places in 1980. Acquired in 2018, this 4-story, 15000sf building has been transformed into 13 residential units, including live/work space.

DEVELOPEMENT TEAM:

*  Dan Benoit, Dan Benoit Design Group

*  Historic Advisor – MacRostie

*  Tax Incentive Finance – tax credit syndicator

*  Debt Partner – South Shore Bank

*  Restoration Investment $3,300,000M

MILESTONES:

*  Tax Increment Finance (TIF)

*  Federal State Historic Tax Credits

*  Tax credit award total $2,200,000M

*  Awarded Silver Hammer Award – Given annually to acknowledge construction or rehabilitation projects that have an extraordinary visual and aesthetic impact on physical landscape and have brought new life to some of the region’s most historic assets.