Adaptive Reuse Potential

Conceptual 24-Residence Dual-Suite Test Fit

The adaptive-reuse scenario assumes nonrenewal of the anchor tenant’s lease following its scheduled expiration on December 31, 2030. No representation is made concerning the tenant’s future renewal intentions.

Redevelopment Opportunity

The Sweeney Building contains approximately 55,800 square feet of gross building area, with approximately 9,300-square-foot gross floor plates, historic architectural character and existing building-wide infrastructure. These characteristics may support future residential, hospitality or mixed-use redevelopment, subject to architectural, engineering, zoning, historic-preservation, financing and governmental review.

The property’s N-1D downtown zoning is intended to accommodate substantial development and an intensive mix of uses. Prospective purchasers should independently verify zoning, permitted uses, parking requirements, building-code compliance and all required approvals for their proposed redevelopment program.

Illustrative 24-Residence Concept

One preliminary residential test fit contemplates 24 two-bedroom, two-bathroom loft residences across Floors 3 through 6. The conceptual residences average approximately 1,100 net rentable square feet and are organized around a roommate-friendly, dual-primary-suite design.

Each bedroom suite is contemplated with exterior-window access, a private full bathroom and sufficient space for a work-from-home area or sitting area. The two suites share a central kitchen, living and dining area, allowing the residence to accommodate a variety of household arrangements while maintaining separation and privacy between bedrooms.

Potential residential features illustrated in the concept include:

Approximately 1,100 rentable SF per residence
Two private bedroom suites
A dedicated full bathroom for each bedroom
Shared open kitchen, living and dining areas
In-unit laundry
Flexible work-from-home space
Modern kitchens and energy-efficient appliances
Individual temperature-control capability, subject to final mechanical design
Retention and incorporation of the building’s historic architectural character where practicable

All finishes, fixtures, appliances and building systems remain conceptual and have not been selected, specified or priced.

Illustrative 1,100-SF Dual-Primary-Suite Test Fit — Conceptual Only

Existing Mechanical Infrastructure

The building currently contains a central water-loop HVAC system supported by boilers, a fluid cooler and water-source heat-pump equipment. This existing infrastructure may provide a foundation for a future residential mechanical system.

A qualified mechanical engineer must evaluate the system’s condition, remaining useful life, capacity, ventilation requirements, energy-code compliance and suitability for residential conversion. No representation is made that the existing system can support the conceptual apartment plan without modification, replacement or supplemental equipment.

Flexibility for Alternative Layouts

The 24-residence concept is intended to demonstrate one potential use of the upper floors. It has not been represented as the only—or necessarily the most economically efficient—residential configuration.

Alternative designs could include:

A greater number of smaller residences
A mix of studio, one-bedroom and two-bedroom apartments
Phased conversion of selected floors
Continued commercial use on portions of the property
Hospitality, extended-stay or other mixed-use configurations

The optimal unit count and use mix will depend on market demand, window and plumbing locations, accessibility, means of egress, historic-preservation requirements, construction costs, available incentives and the purchaser’s investment strategy.

Illustrative 1,100-SF Dual-Primary-Suite Test Fit
Conceptual only—not approved, code-verified or intended for construction.

Redevelopment Resources

The related pages within the Apartment Conversion section provide additional background for a prospective purchaser’s independent evaluation:

Grants/Incentives: Describes potential adaptive-reuse programs and public funding resources. No program eligibility or award is represented.
Additional Incentives: Discusses potential historic rehabilitation tax credits, property-tax incentives, energy programs and related financing resources.

Conceptual-Planning Disclaimer

This Adaptive Reuse Plan is provided solely to illustrate potential redevelopment optionality. It does not constitute an approved development plan, construction document, code analysis, market study, appraisal, contractor estimate, financing commitment or representation of economic feasibility.

The depicted layouts, unit counts, areas, finishes and mechanical concepts are preliminary and may change materially following architectural, structural, environmental, mechanical and code review.

No public grant, tax exemption, historic rehabilitation credit or other incentive is committed or guaranteed. Program availability, eligibility, timing and award amounts depend upon the purchaser, final project design, applicable program requirements and governmental approval.

Prospective purchasers must independently determine the appropriate use, unit mix, construction scope, development cost, financing structure, market rents, operating results and availability of incentives. See the website’s Legal and Disclaimer page for additional information.

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