Gloucester’s City Council approved the proposal to demolish a former bank and construct 40 residential units as well as a large commercial space at 150 Main St. Construction is slated to begin as soon as this winter.
During its July 28 meeting, the council unanimously voted 7-0, with two members absent, to approve the project that would demolish the former Santander Bank and construct two connected buildings, one facing Main Street, standing between 52 and 57 feet tall, and the other facing Middle Street, standing between 30 and 35 feet tall.
The Main Street building will have 19 apartments above a 3,500-square-foot commercial space while the Middle Street building will include 21 apartments. A parking garage will be installed below ground on the property.
Four of the 40 units will be designated as affordable and be made to people making 60% or less than the area median income.
The developers had previously eyed having a mix of two-bedroom, one-bedroom and studio apartments, but there may not be any studios, said Chris Boyce, head of real estate and development with Fox Creek Capital and a one of the project developers.
He said during the meeting that developers are looking to get a restaurant in the commercial space, but that is still to be determined. The 3,500 square feet could be used for two commercial stores.
Throughout the municipal review process, developers have said they plan on making the Middle Street building — which is in a historic district — match the look of other Middle Street buildings and have the Main Street building match the look of other Main Street buildings.
Demolition of the former bank is slated to begin toward the end of the year with construction slated for early in the new year, Boyce said.
The developers are hoping to open the building at the end of next year, but that date could be pushed back. Because the opening date is so far out, he said the exact rents for the apartments are to be determined.
In general the councilors spoke in favor of the project, highlighting the potential positive effect to downtown, the affordable units and the developers’ consideration of abutters.
“I think it’s an extraordinarily well thought-out and respectful design that has been put forth, especially with regard to Middle Street and the historic district,” City Councilor Marjorie Grace said.
Another project detail highlighted during the meeting was the main landscaped areas of the project. There will be a 2,800-square-foot garden and courtyard area that the public can walk through with a bench available as well.
Staff Writer Bobby Grady may be contacted at 978-675-2714 or bgrady@gloucestertimes.com.