As the years passed, the Farmers & Mechanics Bank did expand and an adjoining structure was added. Through many different banks and mergers part of it is now a Wells Fargo Bank. The building was recently purchased by Main Line real estate developer, the BAW Group.
Known for their dedication to giving “new life and new purpose” to historical architecture, BAW Group is committed to the importance of today’s Green Movement by actively seeking adaptive re-use projects such as this one. Brandon Whitaker, Principal of BAW Group, says, “When the Farmers & Mechanics Building became available for sale, we were very excited about pursuing its purchase. We were enamored by its architectural details, its history and the iconic purpose. Even though it had fallen into disrepair over the years, this building was a perfect fit for us, and we felt that it was beneficial to the Phoenixville Borough to preserve the building’s history, beauty, and architectural detail while giving it a new purpose.”
Today, BAW Group has given the former Farmers & Mechanics National Bank building a new purpose as Wells Fargo still resides in the original bank building. However, the upper floors at 101 Main Street have been transformed into Merchants Lofts, six unique Manhattan-style loft apartments, which are an exciting blend of historical character, modern amenities and hip style. These loft apartments feature original brick exterior walls, original hardwood flooring, and upscale details like tile bathrooms, granite counter tops and stainless steel appliances. Each unit is full of individual personality, natural light and warmth just as the original builders of the property had intended. Merchants Lofts, an excellent lease option for those who enjoy and active lifestyle and location that is in close proximity to shopping, restaurants, community events, major roadways and downtown Phoenixville nightlife. As indication of the revival of Phoenixville, the Merchants Lofts were fully leased shortly after completion.
Merchants Lofts is a shining diamond and a welcomed addition to the downtown Phoenixville landscape. Jean Krack, Phoenixville Borough Manager, comments, “Since 2002, the Borough has seen its taxable assessments go up 20.5 percent. Recognize this has occurred through two significant downturns in the economy, one of which has yet to fully return on a national scale. The reason the Borough has been successful is because of the willingness of investors such as Brandon and the BAW Group, who realize the economic value of adaptively reusing existing buildings. He, like a select few, truly understands the need for upscale rental units in communities such as Phoenixville. This is a very walkable community and especially attractive to young professionals. This type of in-fill project is exactly what is called for in our recently approved comprehensive plan and I look forward to working with him on future projects throughout the Borough.”
To learn more about Merchants Lofts by the BAW Group, please visit www.MerchantsLofts.com or call 866-504-8089 to schedule a showing.