Greenfield Savings Bank is Purchasing Leavitt-Hovey House
GREENFIELD – Once home to the Greenfield Public Library for over a century, the Leavitt-Hovey House on 402 Main St. is being purchased by Greenfield Savings Bank following a request for proposal process. The acquisition will ensure the historic building’s preservation, create additional jobs and return the property to the city’s tax roll.
Greenfield Savings Bank purchased the Leavitt-Hovey House from the city for $10,000 after being the only RFP applicant, and will spend approximately $2.5 million on interior, exterior, mechanical, and fire protection upgrades. The organization will be a steward of the National Historic Register property with its plan to retain the building’s character and historical significance while implementing amenity improvements.
Energy-efficient materials will be used in insulating and lighting, researching cost benefits of an HVAC control system for the building and investigating solar options. Improvements to the property’s handicap accessibility will also occur.
As owners of the Leavitt-Hovey House, the bank will expand its local platform for financial products and resources. The organization will pay 100 percent of the tax amount based on the property's current and future assessed value as a for-profit entity.
“I can’t think of a better organization to purchase and restore one of our city’s most historically significant buildings than Greenfield Savings Bank. We will all reap the benefits of their investment in downtown Greenfield for many years,” said Mayor Roxann Wedegartner.
Built in 1797, the Leavitt-Hovey House is a Federal-period building constructed by famed architect Asher Benjamin. The property has maintained its classical revival architectural style over the years. Greenfield took ownership of the house via eminent domain in 1907 before the Greenfield Public Library relocated to the building in 1909. The library was synonymous with the Leavitt-Hovey House until they closed services on June 17, 2023, to finalize relocation to the new Greenfield Public Library on 412 Main St.
"The purchase of the historic Leavitt-Hovey House will give our Bank the space we need to expand our Greenfield campus, add more jobs and increase the city’s property tax base,” said Greenfield Savings Bank President and CEO Thomas J. Meshako. “Greenfield Savings Bank is proud to play a role in the preservation of this landmark building for future generations."
Mayor Roxann Wedegartner, Chief Procurement Officer Laura Phelps, Building Inspector Mark Snow, Crossroads Cultural District Chair Caitlin Von Schmidt, Economic and Community Development Grant Program Assistant Christian LaPlante and Artspace Board of Director President Stephen Hussey reviewed the RFP application.
The official signing of the property has not officially occurred despite a principal agreement. Both sides continue to complete negotiations. We will notify the public once the deal is finalized.
For more information on Greenfield Savings Bank, visit https://www.greenfieldsavings.com.