The Menkiti Group Achieves Major Milestone in Advancement of Historic Main Street Development in Downtown Worcester

Adaptive Reuse Project Will Bring 48 New Apartments to Downtown Worcester

WORCESTER, Mass., July 14, 2026 /PRNewswire/ -- The Menkiti Group announced another major step forward in its ongoing investment in Downtown Worcester as plans continue to advance for the redevelopment of 401–409 Main Street. This past week, the project achieved another key benchmark with its selection for participation in the Commonwealth's Housing Development Incentive Program (HDIP) administered by the Executive Office of Housing and Livable Communities (HLC). Once complete, the adaptive reuse project will transform the long-vacant building into 48 new rental apartments, including five affordable units.

Historically known as the Clark Block, the building was constructed in two phases in 1854 and 1884 and has been a prominent center of commerce for generations of Worcester businesses. More recently, the property served for nearly five decades as the home to Shacks Clothes, a well-known local retailer which closed its doors in 2017. 

For more than a decade, The Menkiti Group has partnered with public and private stakeholders to revitalize Downtown Worcester through thoughtful redevelopment, historic preservation, and strategic investment. The redevelopment of 401–409 Main Street builds on that vision, breathing new life into one of Main Street's iconic historic buildings while contributing much-needed housing to the city's Main Street corridor.

"Worcester has tremendous momentum, " said Bo Menkiti, Founder and CEO of The Menkiti Group. "We're pleased to see continued support for projects that create much-needed housing while preserving the character of our downtowns. The Healey-Driscoll Administration has made housing production a priority across Massachusetts, and initiatives like HDIP help move important projects forward. We remain committed to investing in Worcester and creating places that contribute to the city's continued growth."

The redevelopment of 401–409 Main Street is the latest chapter in The Menkiti Group's growing Worcester portfolio, which includes the award-winning rehabilitation of 526 Main Street, 554 Main Street, and 6 Chatham Street (Chatham Lofts), as well as the ongoing redevelopment of 204 Main Street (the highly anticipated Olympic Lofts). Together, these projects reflect the company's long-term approach to creating vibrant downtown neighborhoods through adaptive reuse, historic preservation, and quality housing.

"Our investment strategy has always focused on the long term," said Mark Rengel, Vice President of Development at The Menkiti Group. "Each project builds on the momentum of the last, helping create more housing, preserve Worcester's architectural heritage, and strengthen Downtown as a place where people want to live, work, and gather."

The Menkiti Group remains committed to working alongside the City of Worcester, the Commonwealth of Massachusetts, neighborhood stakeholders, and community partners to support responsible growth and expand housing opportunities that contribute to the city's continued success.

About The Menkiti Group 
The Menkiti Group is a real estate investment and development company with offices in Worcester, MA and Washington, D.C. Founded in 2004 by Bo Menkiti, they operate as a double bottom line company, measuring success not only in financial returns but also in positive social change. Their commitment is to drive neighborhood impact with a long-term lens, fostering inclusive growth in urban and inner-ring urban markets. The Menkiti Group has invested more than $400 million in emerging neighborhoods along the East Coast and has participated in the development of more than 4.9 million square feet of real estate. In Worcester, the firm's growing portfolio reflects a long-term commitment to downtown revitalization through the adaptive reuse of historic buildings, the creation of new housing, and strategic investment in the city's urban core.

SOURCE The Menkiti Group