Worcester Business Journal

wbjournal.com | January 24, 2022 | Worcester Business Journal 13 to the mill for seven years. Aer that, ownership will be responsible for paying taxes on the property's improved value at various increments, beginning at 10%, for the lifespan of the agreement. By year 20, the exemption will be 25%. Although it's hard to say what either Dudley, or the economy, will look like in two decades, Gumpert said he's not typically one to fix and flip properties. He plans to remain owner of the mill once work is done, while hiring an outside property management company. A 211-year history e project complements another mill revitalization project in town, on Chase Avenue, where DMA Holdings is in the process of building out a 175,000-square-foot building which will operate as a cannabis growing, manufacturing, and retail space, the latter of which Scanlan said is close to opening. At the same time, the Stevens redevelopment stands in contrast to what happened in Hopedale, where the historic Draper mill complex was demolished last year despite its historical significance to the town and the American Industrial Revolution. Redeveloping the Stevens mill would avoid that outcome happening in Dudley, where the mill was designated as part of the Stevens Linen Works Historic District by the National Register of Historic Places in 2010. Like Draper, which was the largest manufacturer of automatic cotton looms in the world at the turn of the 20th century, the Dudley mill is another significant piece in the mill history in South Worcester County. e building Gumpert aims to bring back to life was built by Henry Hale Stevens, part of an industry powerhouse family hailing from North Andover, who bought the property and moved to Dudley in 1846, sourcing granite for the structure from his own property, according to a history written by Pearle Crawford and maintained by the town's library. e investment found success. As it grew, the Stevens mill in Dudley was at one producing in the realm of 15 million yards of linen toweling per year, per Crawford's history. e company, Stevens Linen Works, was led by members of the family before being sold to textile giant J.P. Stevens Co. of New York, another family firm, in 1907. By 1939, the Dudley operation was set to be liquidated when members of the Crawford family, who had worked at the company for generations, formed Stevens Linens Association, Inc., and purchased the business for themselves. e business continued running for decades, eventually changing hands toward the end of the century. According to the Massachusetts State Register of Historic Places 2010 report, linen fabrics were manufactured in the mill under the Stevens name until 1993, with other textile manufacturing continuing until 2003. It's been mostly vacant ever since. "As a whole it'd be a neighborhood revitalization," said Scanlan, of his project. Young professionals and retirees He and Gumpert expressed interest in courting two sets of residents: young professionals and area retirees looking for a less stressful living option as they age out of maintaining their homes. As such, design plans include only one- and two-bedroom apartments, with the majority falling in the former category. About 10% of all the units will be designated as affordable. A subset of Dudley resident have expressed concern about the strain such a development might put on the school system. Scanlan said fears around that issue are not likely to come to fruition, with the Dudley-Charlton Regional School District actually reporting decreased enrollment as of late. "e fear of increased school costs doesn't seem to be very significant here," he said. For now, it's a matter of finishing up the approval process and getting construction off the ground. Once that happens, Gumpert said, he's projecting about an 18-month build. If all goes well, work will begin this year. "It'll be fun to watch all of it," Gumpert said. C O M M E R C I A L R E A L E S T A T E F O C U S 1846 Year Henry Stevens bought the property of what would become the Stevens Linen Mill $45 million Projected investment for revitalization project by John Gumpert 159 Projected apartments to be built ~260 Projected parking spots Stevens Linen Mill, by the numbers Sources: Owner & developer John Gumpert; Historical account by Pearl Crawford, Stevens Linen Mill historian today. fidelitybankonline.com Clarity. Confidence. You deserve a bank that actually cares. With our unique LifeDesign Banking approach, you will get the clarity you need to make informed decisions, so that you'll be able to move forward with confidence. 800.581.5363 | FidelityBankOnline.com W

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