Jul 2008 25

Waltham Watch Factory Exterior

I was reading www.Boston.com today as I usually do and there was an interesting article on the conversion of many of Massachusetts’ old Mill buildings.  Currently there are over 45 mill projects in development in Massachusetts and many more of the over 3,300 mill’s are being eyed for conversion as well.  Tax credits go on to make these projects even more attractive with up to 20% of the construction costs on historic buildings being deductable.

“We would not have been able to move forward without the tax credits,” said Eric Ekman, project manager for Berkeley Investments Inc.  Berkeley Investments is currently working on one of our favorite luxury loft projects in Boston called FP3.  FP3 is a multi-unit luxury condo/loft project in Boston’s Seaport district.  Barbara Lynch will be opening 3 restaurants in the retails space of the development.  Berkeley is also developing a huge condo coversion of the old Watch Factory in Waltham. 

I love these types of conversions.  The history and character of these factories are what make these loft condos so attractive.  I can’t wait to see what else can be done with Massachusetts mills, especially in the Seaport District!

Photo and Quote Courtesy of Boston.com

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