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:
* EMBARC Architects
* 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






