Haverhill, MA – MassDevelopment has provided a $2 million loan to 27 Washington Street, LLC for the redevelopment of the former Magnavox Building at 21-27 Washington Street in Haverhill. The organization will use loan proceeds to renovate the building, which was previously vacant, into two ground-floor commercial units and nine market-rate rental housing units to be located on the three upper floors.
“This project will preserve the former Magnavox Building’s status as a treasured landmark while creating new housing and retail space on downtown Haverhill’s main thoroughfare,” said MassDevelopment president and CEO, Lauren Liss.
The first floor of the historic former Magnavox Building was occupied by Haverhill TV and Appliance from the early 1900s until September 2019. The building’s three upper floors served as office space and warehouse storage, but have been vacant for years. Construction began in September.