PITTSFIELD, MA—MountainOne Bank has committed to providing the financing for the new, $14-million Hotel on North development in downtown Pittsfield. The property is owned by Laurie and David Tierney III of MM&D LLC, and Main Street Hospitality Group will be the hotel’s operator and management company.
According to David Tierney, the Hotel on North development financing is through the commitment of MountainOne Bank, private equity and both Federal and State historic tax credits.
Hotel on North, at 273 North St., is slated to open in May 2015. The 45-room boutique hotel will feature an eclectic mix of furnishings and decor that will reflect the building’s heritage as the iconic early 20th century department store, the Besse-Clarke Company, according to the company. The hotel will also feature a restaurant, banquet and meeting facilities, and lobby bar and lounge located in the front of the hotel with storefront window views of North St.
As an adaptive reuse of a historic building, Hotel on North’s design will attempt to capture a sense of Pittsfield’s legacy, according to the company. The exterior will remain intact while the interior will be reconstructed.
David J. Tierney, Jr., Inc., of Pittsfield, MA, of which David Tierney is president, is the contractor for the renovation and development of the project.