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