CAMBRIDGE, Md. - The Woolworth building, on Race St., is getting a big boost to be revitalized.
The building received $4,537,500 dollars in tax credits, yesterday.
Inside the historical Woolworth building is an art bar, cultural exhibit, and a café. The building was built in 1919 and added to in 1930.
The buildings historical preservation consultant says the building is in jeopardy.
Erin Howe believes a $4.5 million dollar tax credit may save it's past, and future. "It's important to understand the history and evolution of a place like that. Projects like this cannot happen without this kind of funding," says Howe.
Those $4.5 million dollars will go towards revitalization of plumbing, electricity, and leaking that comes through the roof. But when it's all done, there will be restaurants and retail on the first floor and residential suites on the second floor.
Howe added, "Currently the roof is terrible. There is severe water infiltration. There no HVAC system. Everything on the interior and exterior is basically in jeopardy."
Howe told us the actual construction won't start until early Jan. But, business owners can't wait.
Owner of the Blue Awning Beth Kline says, "People will be excited to see what's gonna happen. I think any new business coming in the downtown is definitely a plus for businesses that are already here."
All in hopes of becoming the cornerstone of a new future for Cambridge.