WORCESTER – The property at 526 Main St. in Worcester was acquired for planned development of a co-working and maker space with street level retail.
The property was purchased by MassDeveopment in 2017, which selected the Menkiti Group as the preferred developer, who recently completed the acquisition. The Menkiti Group owns additional properties in Worcester that include commercial space at 554 Main St. and 401-405 Main St., as well as residential space at 204 Main St.
Bo Menkiti, founder of the Menkiti Group, said, “This acquisition signifies our continued commitment to bringing investment and commercial density back to Worcester’s historic Theatre District.”
Prior to acquisition by MassDevelopment in 2017, the property housed a pawn show and check cashing service. The building was originally constructed in 1894.
MassDevelopment provided loans of nearly $7 million to Menkiti Group affiliates for development of the property. The Collaborative Workspace Program, also part of MassDevelopment, provided a $250,000 grant for the project.
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