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wbjournal.com | May 14, 2018 | Worcester Business Journal 7 Central Building project gets $5.1M anks to $5.1 million in financial support from MassHousing, the conversion of the vacant Central Building in Worcester is underway. MassHousing closed on the financing to allow the transformation of the building into a new 55-unit mixed-income housing development. e project includes 14 workforce housing units, and eight of the apartments will be designated for low- er income house- holds at or below 50 percent of the median income. ose apartments will be subsidized by Section 8 Hous- ing Assistance. Another 28 units will be affordable for households earning below 60 percent of the median income. NORESCO begins $97M VA work Westborough energy efficiency and infrastructure solutions company NORESCO has begun work on a $97-million energy savings contract with a U.S. Department of Veterans Affairs' system in the upper Midwest. e contract, with the VA Great Lakes Health Care system in Illinois, Wisconsin, Michigan's Upper Peninsula and Northwest Indiana, includes energy and water efficiency and facility improvements at six sites. Vacant Worcester school to become 23-unit apartment building Main Street Bank in Marlborough and MassDevelop- ment are partnering to provide financing to real estate development company North Village Los LLC to rede- velop the 93-year-old Indian Hill Schoolhouse on Ararat Street in Worcester, converting it into market-rate rental units. e company will use the proceeds from the $2.8-million commercial mortgage loan to purchase and redevelop the 20,000-square-foot structure. North Vil- lage Los LLC is a business venture between Worcester developers Timothy Adler and Daniel Stroe. Sentinel & Enterprise, Lowell Sun earned $5M profit Daily newspapers Fitchburg Sentinel & Enterprise, the Lowell Sun and the Nashoba Valley Voice weekly publication earned a 26-percent profit margin in the last budget year, according to a report by the Harvard Uni- versity-affiliated NeimanLab. e newspapers reached that profitability at a time when both newspapers have reduced staff and only months before their parent company, Denver-based Digital First Media, closed the Fitchburg newsroom of the Sentinel & Enterprise. RXi lands dermatology patent Marlborough drugmaker RXi Pharmaceuticals has been granted a U.S. patent for treating fibrotic disorders, and hopes to market that intellectual property as it con- tinues to focus on cancer research. is particular patent comes aer a clinical trial displayed the safety and effectiveness of a substance, and its use to treat scarring of the skin brought from fibrotic disorders. The Central Building at 332 Main St. was built in 1926. At ROCG – a nationally recognized leader in the business exit/transition field – we have the answers. Our hands-on, best practices approach, ensures our clients implement successful plans to meet their personal lifestyle and legacy objectives, whether it be an outside third-party sale, management buy-out or a next genera- tion family transfer. For more information, our White Paper on Business Transition, recent business exit and value growth articles and upcoming speaking engagements visit http://americas.rocg.com or contact Terry Shepherd at 617-412-4640. We work with business owners to: • re-energize their business model • help them discover what they need to support their long-term goals and financial lifestyle needs • develop a strategic plan to meet their goals • help set milestones to ensure everyone works with the end goal in mind • execute their strategic plan successfully 617-412-4640 • http://americas.rocg.com Where You Finish The Race Depends On Who You Bet On To Start. Rely on ROCG to Help You Maximize Your Business Value. W