HANDS CEO comments on deal to purchase Boston Store

Local News

It is, perhaps, the most iconic building in downtown Erie; the Boston Store will soon have a new owner and with it, new hope.

JET 24 Weekend Assignment Editor Rick Liebel moved into the Boston Store in July.  He was looking for a secure place near the excitement of downtown.  He says he found both at the Boston Store and is happy to hear that the current Kansas-based owners are selling the building for $6.25 million to the HANDS Organization, a local non-profit provider of affordable living space.

“Having a local owner here will do a lot of restorations for the tenants and for the Boston Store. I don’t have any concerns at all…”

One reason why is because HANDS is agreeing to honor all commercial and apartment leases through expiration.

The multi-million dollar price tag plus future renovations mean the grand old building is no cheap date, but the non-profit’s CEO, Matthew Good, says it’s worth it to pitch in with other downtown renovations.

 “I viewed this as a long-term opportunity for HANDS and looking at our track record of investing in important properties, it seemed to start to fit with our mission and our vision for the future.”

As word is getting out that a non-profit is taking over the Boston Store, inevitably the question is, ‘Will the building be coming off the tax rolls?’ The answer we are hearing is no.

“The building is currently on the tax rolls and there’s no plan to take it off the tax rolls.”

There’s even a plan to repair the famous Boston Store Clock, making this a building whose time may finally have come.

If all goes well, that real estate closing is expected in April.

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