What's Next For Worcester's Denholm Building? See Redevelopment Proposals

WORCESTER, MA — Four developers have submitted proposals for the historic Denholm building site in downtown Worcester, a former department store that was most recently used as an office condominium before the Worcester Redevelopment Authority (WRA) purchased it last year.

The four proposals differ in size and scope — and some call for the demolition of the building — but all would add hundreds of new apartments downtown, plus renewed commercial space along Main Street.

The former Denholm department store opened at 484 Main St. in 1884. The company replaced the facade of the store in the 1950s with the sleek mid-century concrete still seen today, but the store closed in the 1970s.

The WRA purchased the Denholm property in August for $3 million, but the city authorized a $6.8 million loan for the site. Of that total minus the property cost, $2.5 million was set aside for demolition, plus $900,000 for relocation assistance for the building's tenants and $400,000 for maintenance.

Worcester began accepting proposals for the site in November and closed the proposal period in late March. The WRA is set to review each proposal Thursday morning during its regular meeting.

Here's a sketch of each proposal based on what each developer submitted:

The Menkiti Group

This $113 million proposal, called Denholm Court, calls for two new 10 and 11-story residential buildings with 233 apartments (20% affordable), 10,000 square-feet of retail space along Main Street and an outdoor promenade. Menkiti has already developed several projects in Worcester, including the downtown Chatham Lofts and the MassHire career center along Main Street. Menkiti has also completed residential projects in Washington and Maryland.

The developer is offering the minimum $3 million bid for the building, minus a $2.5 million demolition credit.

RMS Companies

This $65 million proposal calls for a "ground-up luxury apartment building" with 200 units, 130 covered parking spots and 6,600 square-feet of retail and flexible space along Main Street. RMS is based in Stamford, Conn., and has completed projects in Hartford and New Haven.

The developer is offering the minimum $3 million bid for the building, minus the $2.5 million demolition credit.

Joseph J. Corcoran Company

This Quincy-based developer would reuse the existing building to create 300 rental units across three buildings, with 20% set aside as affordable and 10% accessible. The proposal also calls for 7,800 square-feet of commercial space along Main Street. Corcoran has completed residential projects in Milton, Amesbury, Chelsea and Charlestown.

Corcoran is offering $500,000 for the property plus a $2.5 million demolition credit for a total price of $3 million.

Criterion Group

This developer would demolish the Denholm building and construct two 12-story buildings with a combined 188 apartments, plus commercial space along Main Street. The project would cost an estimated $78.4 million.

Criterion is offering $3.3 million for the property minus a $2.5 million demolition credit.

The WRA meeting begins Thursday at 8 a.m. It's likely that the authority members will decide which proposals will move to the next stage of the bidding process.