Worcester Business Journal

wbjournal.com | September 4, 2023 | Worcester Business Journal 15 At S&G our experienced staff will be with you at every stage of your organization's development and business cycle, especially now as you look to work through the current economic environment. Today, profitability protection is a first priority. With our knowledge, technical expertise, entrepreneurial spirit and experience behind you, you'll have the tools, resources and services to successfully navigate through the rough waters that lay ahead. Our services include: To see how we can help your business, or to set up a no-obligation initial consultation please contact us at (508) 757-3311. • Business Consulting • Business Transition & Exit Planning • Financial Services • M&A Advisory • Accounting & Tax Services • Retirement Planning Worcester Framingham 508-757-3311 • www.sgllp.com Your Your Vision. Vision. Our Our Expertise. Expertise. Your Your Vision. Vision. Our Our Expertise. Expertise. rented the ground floors to small business owners, while using upper floors for its student housing needs. While some of the businesses operating there are new, like the Salvadoran bakery Belén Casa de Pan opened in March, others have rented for decades. Business owner Wilfredo Santana Jr. said he was a little hesitant when he first heard about Clark's plans to demolish the building, which has housed his Santana Company Barbershop for the past decade and his mother's beauty salon, Smart Cuts Plus, for almost 40 years. "Everybody was a little bit fearful because of the unknown," he said. Over the past two decades, the university has kept rents consistent at around $700 a month on average, said Corazzini, but that is likely to change with the new building. "Naturally, [rents] are going to have to go up," said Corazzini, though he's not sure by how much. "e intention is to try to keep them affordable and to try to scale any potential increases over a period of time that allows [the businesses] to transition back successfully." Santana, who said he's come around to the idea since communicating more with Clark, predicted he would come back to the new building. he project is estimated to take about two years to construct and would include 10,000 square feet of ground-floor retail, a 1,000-square-foot increase from the existing commercial space, according to Clark's presentation to the historical commission meeting. All eight businesses have expressed to Clark an intention to return to the block, Corazzini said, but Teasdale isn't as optimistic, arguing if businesses invest in relocating during construction, they won't want to pack up and move again once the development is complete. "Once those businesses are gone, they're not coming back." Teasdale said. W F O C U S Main South racial demographics Percent of neighborhood population Hispanic/Latino 43% White 33% Black 16% Asian 12% Source: Main South Community Development Corp.

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