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Olympic lofts on Main Street Worcester MA

Olympic Lofts | 204 Main St (Worcester, MA)

20-unit mixed-use adaptive reuse project currently under construction; $13MM of financing sourced from HDIP, state and federal historic tax credits, MassDevelopment, and MHIC

Project Description

204 Main Street is a historically significant mixed- use building in Worcester's Central Business District. Positioned across from Worcester District Court, the building was originally constructed in 1926 and served as the Kane’s Furniture Store. The building is currently tenanted by the Garden Fresh Courthouse Cafe and was most recently the headquarters for Olympic Trophy.
Approval from the National Park Service to list 204 Main on the National Register of Historic Places was secured, contingent on its conversion to a mixed-use property with 20 rental units. The project's total development cost is $13.3M. Massachusetts Housing Investment Corporation (MHIC) provided $9.8M in debt, including a construction loan and bridge loan for the nearly $5M of historic tax credits and the $2.5M HDIP tax credit award. The project also secured a $650,000 grant from MassDevelopment’s Underutilized Properties Program.

Project Highlights

Project Type

Mixed-Use

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