Irons & Russell building to receive $750K in state historic preservation tax credits

THE IRONS & Russell building at 95 Chestnut St. in the Jewelry District downtown will receive $750,000 in state historic preservation tax credits, the state announced Thursday. / PBN PHOTO/MARY MACDONALD
THE IRONS & Russell building at 95 Chestnut St. in the Jewelry District downtown will receive $750,000 in state historic preservation tax credits, the state announced Thursday. / PBN PHOTO/MARY MACDONALD

PROVIDENCE – The Irons & Russell building in the Jewelry District downtown will receive $750,000 in state historic preservation tax credits, the state announced Thursday.
The building at 95 Chestnut St., owned by Hecht Chestnut LLC, will have an extensive interior and exterior rehabilitation, according to the application for the tax credit program.
The building is at the corner of Chestnut and Clifford streets. Tech startup accelerator Betaspring occupies one of the floors.
The building may be converted to include residential apartments, said Hecht Development principal Ken Hecht, in a brief telephone interview.
“That’s up for grabs,” he said.
The six-story building was constructed in 1904 to house the Irons & Russell Company, a manufacturer of pins and charms, according to the state summary of the project. The building was notable in that it featured all-electrical power in its manufacturing.
It features a façade that is almost entirely original. It has a substantial brownstone entrance, original wood windows and transoms and an ornate, and operable, birdcage-style elevator. The proposed exterior rehabilitation will replace all of the windows with matching aluminum replacement windows. The wooden doors will be restored and masonry repointed.
Hecht purchased the building for $2.1 million in December 2012. The property abuts the former I-195 land being marketed by the state’s I-195 Redevelopment District Commission.

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