Former TD Bank

Work continues at the former TD Bank building on South Main Street in Waterbury, aided by tax credits from the Vermont Department of Housing and Community Development.

The former TD Bank building is undergoing expansive renovations, with plans to be open for business in March.

Furst Management Ventures is gutting the interior and removing the drive-through lane to expand metered parking for the public. The estimated cost: $2.3 million.

“Hopefully, we’ll have just two tenants — one upstairs and another downstairs,” said Brian Leven, a principal of Furst Management Ventures.

The building at 14 S. Main St., located right in the heart of downtown Waterbury, has 10,000 square feet of space across two floors. Leven said he has lined up one tenant for the upstairs space and is looking for a first-floor tenant.

The building’s future has been the source of public speculation since TD Bank closed the doors on Dec. 1, 2017. Later that month, the Waterbury Select Board decided not to buy the property, which was listed for $795,000.

In November 2018, Furst Management Ventures bought the building for $900,000. With the sale of the building came the end of free parking in the former bank lot. Instead, parking is metered at $2 an hour and a parking fine is $40.

Leven said the lot will still be available to the public, and removal of the drive-through will expand the number of parking spaces from 28 to 54. The lot will not reserve spaces for building tenants, Leven said.

The renovation work — led by Donald P. Blake Jr. of Morrisville — is due in part to tax credits awarded through the Vermont Department of Housing and Community Development. The credits, totaling $132,000, will support façade upgrades, code-required electrical improvements and installation of a sprinkler system and lift.

“We’re hoping to fit in and join the efforts of revitalizing Waterbury,” Leven said. “We’re really excited to be a part of the downtown community.”

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