AMESBURY – Zell Riverwalk LLC of Swampscott has received a $900,000 Massachusetts Historic Rehabilitation Tax Credit for preserving the former Walker Body Company factory in Amesbury.
State Senator Steven A. Baddour (D-Methuen) and Representative Michael A. Costello (D-Amesbury) strongly supported Zell Riverwalk’s application to the Massachusetts Historical Commission. Secretary of State William A. Galvin announced the awards today.
Zell Riverwalk transformed the former Walker Body factory into 87 units of housing, known as the Residences at Riverwalk.
“Without this rehabilitation that building would have continued to deteriorate and probably would have eventually collapsed,” said Rep. Costello. “Instead, the historical elements have been preserved and we have quality housing that will add to the vitality of the neighborhood. I’m glad the state was able to partner in this project.”
“The Riverwalk redevelopment is essential to the continuing renaissance of Amesbury and is a model for smart growth everywhere,” said Sen. Baddour. “The state has acted wisely in supporting this style of redevelopment, and I hope to see many more projects like this one.”
The Walker Body Company factory is a historically significant structure eligible for the State and National Registers of Historic Places. Years of vacancy, however, have led to the deterioration of the property.