FITCHBURG — A recent groundbreaking party celebrated a new residential and commercial development, Eleanor’s Lofts, being built on Depot Street.
Cunningham Equities out of Clinton are in the process of redeveloping the Munkjso building at 21 Depot St. into 225 residential loft-style apartments along with commercial space. The city hopes the development will breathe new life into the historic Depot Street building.
When completed, Eleanor’s Lofts will be a resource-efficient, multi-purpose residential area with market-rate housing and 37,000 square feet of commercial and amenity space. According to a press release, Eleanor’s Lofts will “activate” a vital downtown corridor with new restaurants, vibrant outdoor green space, and a state-of-the-art fitness center for the residential building.
At the April 24 groundbreaking, guests included Fitchburg Mayor Sam Squailia, state Rep. Mike Kushmerek, state Sen. John Cronin’s Constituent Service Director Beth Walsh, Fitchburg City Council President Anthony Zarrella, City Councilors Joe Bowen, Sally Cragin, and Bernie Schultz III, along with other town officials.
“The goal with Eleanor’s Lofts was to thoughtfully blend the historic character of the building with modern, sustainable living,” Cunningham Equities Vice President of Operations Xaley Yousey stated in the release. “We are incredibly proud to bring this development to Fitchburg and contribute to the ongoing revitalization of the area.”
According to project information on cebuilds.com/residential-properties/eleanors-lofts, the development boasts $13.51 million in real estate tax revenue for the city projected over 10 years, based on current millage rates, hundreds of jobs created during construction, and a close proximity to Route 2 and I-190.
Cunningham Equities Senior Manager Giuliana Iavarone said that the kickoff “was a tremendous success,” according to a release.
“It was wonderful meeting members of the community and hearing their excitement about this project,” Iavarone said. “The level of support we received throughout the planning process was truly outstanding.”
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