For Immediate Release: 8/16/2013 2:03 pm
Worcester, MA (August 16, 2013) - The City of Worcester in partnership with SpencerBANK & Preservation Worcester have entered into a unique private/public partnership to restore the historic Fire Alarm and Telegraph Building located at 230 Park Avenue. The building will serve as the future home of SpencerBank and also serve as a community space for local meetings and gatherings.
The Fire Alarm & Telegraph Building, built in 1925, is on the National Register of Historic Places and had been identified by Preservation Worcester as one of the city's "Most Endangered Structures." The historic 6,735 square foot, two-story building designed by Worcester architect Lucius Briggs is an English Tudor Revival Style structure with brick, cast stone trim and a steep-pitched slate roof that sits on a picturesque piece of land in Elm Park.
"SpencerBANK's financial stability and continued growth is due to its response to market trends and its commitment to personal service. This trend has allowed the Bank to devote resources to enter into an Agreement with the City of Worcester to preserve and restore the Fire Alarm and Telegraph Building and surrounding park area as a unique and attractive gateway for public use of Elm Park," explained K. Michael Robbins SpencerBANK President and CEO. "We are very excited about this project and feel that this branch will allow us to continue to serve this vibrant market area with a full complement of products and services to business owners, professionals and consumers. Similarly, our collaboration with Preservation Worcester will allow the community room to be used in a way that builds capacity for many great organizations in Worcester."
"Preservation Worcester is proud to be a part of a unique private/public partnership that preserves, restores and brings life to the historic and iconic Fire Alarm & Telegraph building," stated Deborah Packard, Preservation Worcester Executive Director. "This renovation will allow future generation's access to the structure, that minimizes impact on Elm Park and Newton Hill and that provides an economic development opportunity for the city."
The building's reuse will have Preservation Worcester managing the first floor for community use and SpencerBANK will operate a retail banking office on the second floor. Construction of a 1,828 square-foot, two-story addition onto the rear of the existing building and construction of two retaining walls, a 40-space off-street parking lot and free standing drive-up ATM structure will be also be designed.
