Worcester Business Journal

wbjournal.com | November 11, 2024 | Worcester Business Journal 7 B R I E F S on Oct. 28 by Worcester real estate firm First Amer- ican Realty, according to Worcester District Registry of Deeds records. e lot, sitting in the shadow of Worcester's nearby glass tower at 446 Main St. and directly next to the Worcester Plaza Garage, was once the home of a three-story garage itself before it was demolished in 2019, according to City of Worcester permit records. e property was sold to 56 Pleasant Street LLC, a New York-based entity owned by Radson Devel- opment. e firm's portfolio includes seven prop- erties in New York; most of Radson's buildings are multi-family, mixed-use developments in the New York City area, although its holdings include a Hil- ton-brand hotel in Long Beach, New York. Radson officials did not immediately respond to a WBJ email requesting more information regarding its plans for the site. Cornerstone Bank's inaugural chief risk officer to retire Two and a half years aer assuming his role as se- nior vice president, chief risk officer at Cornerstone Bank, Michael Roy will retire from the Worces- ter-based institution come February. "Mike has been an integral part of ensuring our systems are iron-clad and always in compliance with regulations that are constantly changing to keep up with evolving tech- nology," Todd Tallman, CEO of Cornerstone Bank, said in the release. "We are grateful for his thorough work and unwaver- ing commitment to excellence." Roy joined Cornerstone in 2022 as the bank's inaugural chief risk officer in which he has managed its governance and strategy for risk management and safeguarding stakeholder investments. "I'm proud of my time at Cornerstone. I don't think there are too many banks out there that enjoy the reputation we've built, and it's only going to get better," Roy said in the release. Roy's retirement rounds out 48 years of banking experience in the sectors of retail banking, opera- tions, and compliance. Roy earned his bachelor's degree from Bryant University in Rhode Island and his MBA from Anna Maria College in Paxton. Commonwealth Fusion receives license for radioactive materials Commonwealth Fusion Systems, the De- vens-based company striving to bring online the world's first commercially-relevant net energy fusion machine, has received state approval to process, use, and store radioactive materials at its site. e company said receiving this state approval is a vital step towards its effort to launch its elu- sive-yet-promising energy fusion machine, a tech- nology with the potential to create abundant energy without producing carbon. CFS first opened its Devens facility in February 2023, five years aer the company was spun out of MIT. It has raised $2 billion from investors, including Microso Co-founder Bill Gates. Michael Roy W

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