Page 33 - BusinessWest January 20, 2025

“Itwasayearofa gratifying amount of activity; going into both 2023 and 2024, people were waiting for the recession
to hit, and, gratefully, the economy seems to have achieved a soft landing.”
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sions that led to an out- side-the-box reimagin- ing of the top two floors in the building, once home to BankBoston’s
regional headquarters, and a quick — as in 90 days — conversion of that space in time for the start of the school year.
Another factor has been businesses and nonprofits becoming frustrated with other property owners in the downtown and seek- ing what amounts to higher ground.
“Some properties are losing tenants to 1350; we’re building a better mousetrap,” Plotkin said. “It’s not the kind of growth I like to see in downtown, a kind of musical chairs with tenants, but we’re doing things here that are pretty aggressive, and it’s paying
off.”Indeed, most of the success at 1350 stems from an effort to be creative and find, in many instances, non-traditional uses for traditional office and retail space. That was the case with the high school, and also with the Shops at 1350 Main, a collection of Hispanic-owned startups now occupying a large block of for- mer retail space in the tower.
And while he’s proud of what’s been accomplished at his office tower, Plotkin said there is much work still be done within the city’s central business district, where he estimates there is at least 500,000 square feet of vacant space, much of it class B or C.
Finding creative reuse for this space is paramount, he noted, adding that housing has emerged as both a need and a possible solution — though it’s not suitable for many office structures — to the glut of space.
That has certainly been the case in Amherst, said Barry Roberts, a developer, property owner, and president of the Roberts Group. He noted that several projects in various stages of development, including his work to redevelop the former Hastings building on South Pleasant Street and the property behind it, involve housing components.
Another, much larger project is planned for the former Rafters sports bar property at the corner of University Drive and Amity Street, which will be transformed into 85 units of housing in two
Market
Continued from page 31
Bill Low says he’s seen an uptick in investor activity, but potential buyers remain cautious, especially amid uncertainty about the future of the office.
Staff Photo
five-story buildings, as well as retail and office space.
Roberts believes this will barely make a dent in the town’s over-
all need for new housing of all kinds, but it’s a start.
Back to Normal?
Looking ahead to 2025 and beyond, those we spoke with there are many reasons for optimism — as well as progress on some important development projects.
At the top of that list is a major project near Barnes Airport in Westfield, which received a much-needed boost late last year when the state Legislature approved a measure that exempts data centers from the state’s sales and use tax.
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