Loans to help convert industrial building on Tremaine Street into 17 apartments – Leominster Champion leominsterchamp.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leominsterchamp.com Daily Mail and Mail on Sunday newspapers.
Danielle Ray
Correspondent
An old mill building on Summer Street in Leominster has been converted into a 36-apartment building, giving new life to a space that sat vacant for 10 years before the large-scale renovation began in 2019.
Developer Dan Botwinik of Cougar Capital was able to transform the property at 45 Summer St. into what it is today by working with the City of Leominster and Commonwealth to leverage a variety of tax credits and incentives.
“Without the Housing Development Incentive Program (HDIP) credits and historic tax credits this project would never have made financial sense, and this formerly vibrant factory would still be contributing to blight in the downtown,” Botwinik said. “Luckily, these programs allow developers to repurpose and restore buildings of historical significance, while creating jobs, increasing the tax base, and providing quality housing.”