Owner seeks $300,000 toward phased modernization of Stearns Building elevator after state placard

Mike, the senior manager for the commercial property at 293 Bridge Street, told the committee that one of two elevators in the historic Stearns Building was placarded by the state and is no longer repairable. He said the building relies on upstairs tenants — including medical offices and nonprofit services — that need vertical access for ADA compliance and day‑to‑day operations.

Mike said modernization of both elevators is estimated at roughly $1.5 million. The applicant asked the committee for approximately $300,000 to fund a phased approach that would restore one elevator to code‑compliant service. He said one elevator company’s estimate for the black‑tagged elevator is about $625,300; the $300,000 request is intended to leverage private fundraising to reach the full required amount.

Committee members noted that elevator manufacture and installation are not immediate fixes and that, even if funded, procurement and manufacturing timelines mean work would likely take six months to a year. Mike said he was pursuing private funding in parallel and that the owner — he said — would not consider selling the building if the elevator work could proceed. The committee did not take an action and asked staff to include elevator modernization in deliberations.