Groundbreaking Held at Paramount Theater and Massasoit House Hotel
SPRINGFIELD — Saying he is “bullish” on downtown Springfield, Gov. Charlie Baker was among a group of local and state officials who gathered to ceremonially break ground Monday on a $38 million restoration of the Paramount Theater and Massasoit House Hotel.
The project will transform the Paramount, which opened 90 years ago as a vaudeville theater, into a performing-arts center, while the adjoining Massasoit building will become an 85-room boutique hotel. The property was purchased in 2011 by the New England Farm Workers Council. The 85-room hotel is expected to be completed by December 2020, with the theater expected to finish a year after that.
Main Street Hospitality — whose properties include the Red Lion Inn in Stockbridge, Hotel on North in Pittsfield, and the Porches Inn at MASS MoCA in North Adams — will manage the new Massasoit House Hotel. Main Street CEO Sarah Eustis has been looking to enter the Springfield market for a few years.
Project funding involves roughly $20 million from state and federal historic tax credits and a federal opportunity-zone tax credit. The project will also reap $3.8 million in HUD Section 108 loan funds through the city and the federal government, a $2 million state grant, and private funding.