Hanover Theatre buys adjacent building for $1.1M

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By Sam Bonacci

The Hanover Theatre for the Performing Arts has taken a step toward expanding Worcester’s theater district with the purchase of a three-story building adjacent to its downtown location.

Theater officials confirmed the purchase of the three-story former office building at 551 Main St. in a press release Wednesday. The vacant building was purchased for $1.1 million with an estimated $3.5 million needed in renovations and build out, said Lisa Condit, director of marketing and public relations for the theatre.

The building will expand the theater’s community outreach, she said, by adding function space and housing the theatre’s education and outreach programs.

“The acquisition of the building and our plans for the space represent transformative steps in the development of the theatre and the theatre district,” said Troy Siebels, president and chief executive officer of the theatre in a statement. “Our goal is to develop the theatre in ways that serve the greater community.”

Retail space on the first floor of the building will be leased to a restaurant, said Siebels who is already in talks with a “local restaurateur.” The building will also provide additional office space for the theatre.

The theater has raised $2 million in funding for the project from the Hanover Insurance Group Foundation (HIGF), individual benefactors, and local family foundations. The theater needs to raise an approximately $1.5 million for renovations, said Condit. The HIGF has set aside $700,000 grant that will match one dollar to every two dollars contributed, according to the release.

“We’re very proud to play a role in the continued growth and development of The Hanover Theatre,” Frederick Eppinger, president and chief executive officer of The Hanover Insurance Group, said in a statement. “Our hope is that this incentive grant will encourage others to provide even more support to economic development efforts in the city and make high-quality performing arts more accessible.”

The theatre opened in 2008 and draws over 180,000 patrons annually.