June 28, 2023 Architectural Heritage Foundation Finances Historic Boston Project
MEDIA RELEASE — FOR IMMEDIATE USE
Monday, May 22, 2023
HISTORIC BOSTON SECURES $250K LOAN FOR UPHAM’S CORNER REHABILITATION
Restored Trolley System Building Now Houses ‘Comfort Kitchen’
BOSTON — Historic Boston Inc., the nonprofit preservation organization, has secured a $250,000 loan from the Architectural Heritage Foundation for the recently restored Upham’s Corner Comfort Station in Dorchester, home to the new Comfort Kitchen restaurant.
Historic Boston, which purchased, re-envisioned, and oversaw the $1.9 million redevelopment of the abandoned structure at 611 Columbia Rd. in Dorchester into a restaurant, secured the loan from the Brighton-based non-profit.
Comfort Kitchen, serving customers since it opened for breakfast, lunch and dinner in January, is one of several Boston-based projects benefitting from proceeds of AHF’s sale of Boston’s Old City Hall in 2017.
“Historic Boston’s objective was to preserve and reuse a local historic building, support an entrepreneur, and help to strengthen the Upham’s Corner commercial district,” said Tony Lopes, Director of Real Estate of HBI. “This project checks all those boxes besides just being a great new place to eat.”
The loan from AHF was secured at a below-market fixed rate, refinancing a construction loan following the successful completion of the building earlier this year.
“When we sold Old City Hall, we knew we wanted to use a portion of the proceeds to fund the historic preservation projects in Boston’s neighborhoods,” said AHF President Sean McDonnell. “The chance to support community-based development made it an even more attractive opportunity for AHF’s board of directors and staff. We are proud to play a role in this exciting project and thrilled to support the good work of Historic Boston and Comfort Kitchen.”
Since 1966, AHF has been at the forefront of preserving and reactivating historic properties to stimulate community growth. AHF partners with public entities, nonprofit organizations, and private developers to find solutions for complicated historic preservation projects.
Cameron S. Merrill of the law firm Merrill & McGeary of Boston and Jason A. Panos of The Panos Law Group of Peabody were legal advisors on the transaction.
ABOUT HISTORIC BOSTON INC.
HBI is a nonprofit preservation and real estate organization that rehabilitates historic and culturally significant properties in Boston’s neighborhoods so they are a useable part of the city’s present and future. HBI works with local partners to identify and invest in historic buildings and cultural resources whose reuse will catalyze neighborhood renewal. HBI acquires and redevelops historic structures and provides technical expertise, planning services and financing for rehabilitation projects. HBI projects demonstrate that preserving historic properties is economically viable and that they can be useable and functioning assets in a community. Please visit HBI at www.historicboston.org .
For more information, please contact:
Tom Palmer, Tom Palmer Communication