Walker Shoe factory slated for residential project worth up to $7M
Photo | Zachary Comeau
This former shoe factory could be renovated into loft-style apartments.
The former Walker, J. H. and G. M. Shoe Factory at 28 Water St. in Worcester has been sold for $660,000 to a Chelsea-based developer who plans to create 62 studio or one-bedroom apartments in the 150-year-old building.
Anthony Rossi, an attorney and historic reuse developer, said he expects the project to cost between $5 million and $7 million. He plans to name the building the Walker Lofts in an homage to the factory.
The apartment complex will come equipped with a new elevator, fitness room, small dog park and an outdoor space, Rossi said.
Plans have been filed with the city, but land-use boards have yet to take up the proposal.
The building has been vacant for years and previous projects to renovate the building never got off the ground, including a 2015 proposal for just 20 residential units and commercial uses on the first floor of the five-story building.
Records show the Worcester Planning Board approved the site plan, but it’s unclear why that project didn’t get built.
According to property records, this is the fourth time the building has changed ownership since 2013. The last sale was in 2016 for $600,000 and just $250,000 in 2015.
Currently, the building is somewhat of an eyesore, standing highly visible from I-290 and parts of the Canal District, which has been the subject of recent redevelopment activity.
“I like the location and I like the Canal District,” Rossi told WBJ. Specifically, Rossi said the host of restaurants, bars and entertainment options in the area help make his project viable.
Rossi touted his experience in redeveloping vacant historic buildings, including the Liberty Tree Lofts in Boston and the redevelopment of a Methuen building that burned down in 2015.
Rossi said he’s currently looking for other sites in Worcester featuring large, abandoned brick buildings.
“With these types of buildings, the acquisition price has to make sense,” he said.
WBJ Web Partners
Most Recent
Most Recent
0 Comments