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Hagerstown OKs purchase of former CVS building for business incubator

Businesses within the city limits will be able to offer their ideas for the space

January 12, 2011|By KATE S. ALEXANDER | kate.alexander@herald-mail.com
  • The Hagerstown City Council Tuesday unanimously approved spending $220,000 to purchase the former CVS building at 60 W. Washington St. as a business incubator space for downtown
Herald-Mail file photo

A building that once housed a pharmacy in downtown Hagerstown might help the city boost economic development.

The Hagerstown City Council Tuesday unanimously approved spending $220,000 to purchase the former CVS building at 60 W. Washington St. as a business incubator space for downtown.

The city has proposed an adaptive reuse project for the property to help support business growth and redevelopment in the city center.

Hagerstown will use a mix of downtown revitalization funds, capital improvement funds and a Maryland Community Legacy Grant to buy the building, according to city documents.

For the city to use a Community Legacy Grant of $50,000 for the project, the building must be used for a community revitalization purpose, according to city documents.

When Hagerstown officials applied for the grant, they indicated it would use the space as a business incubator for retail or a restaurant, or as a flexible institutional space for educational and cultural anchors downtown, according to August 2010 documents.

The incubator would provide management, guidance, technical assistance and consultation to meet the needs of growing companies, a city news release said.

Existing city businesses will have a chance to weigh in on the project before the city begins renovating the building.

City officials will hold a meeting on Tuesday, Jan. 18, from 5:15 p.m. to 7 p.m., at The Gourmet Goat on North Potomac Street. During the meeting, businesses within the city limits will be able to offer their ideas for the space, the news release said.

Businesses can register for the meeting by calling Kathy Saxman, Hagerstown's development funding specialist, at 301-766-4041, the release said.  Businesses must register by Friday at 4 p.m.

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